Amid the flurry of speculative activity in GameStop, brokers took steps to restrict the trading in GameStop stock and options and other related securities. Free-stock trading pioneer Robinhood and Interactive Brokers both took steps to curb the wild trading activity in heavily shorted names on Thursday.
Robinhood which is a stock trading and investing app, announced it would be restricting transactions for certain securities, citing “current market volatility” in its immediately criticized press release.
“In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG,” a Robinhood rep said on Thursday. “We also raised margin requirements for certain securities.”
robinhood decided this morning to suspend buying of AMC and GME stock because regular people were making too much money, proving once again that any time the poors find a way to get any sort of financial foothold in this world the billionaire class will move swiftly to crush them
— We are WSB Chairman (@arshbajwaa) January 28, 2021
The led to Ja Rule giving his thoughts on the situation, but with his financial disaster known as the Fyre Festival led to mockery by people on Twitter.
the last time @jarule was famous for an investment he made, hundreds of people were stranded on an island in the bahamas
— outlaw (@aayush_d1) January 28, 2021
American Dream ?? That doesn't exist any more. WE ARE PUPPETS to the BIG TECH & Government. THIS SHOWS IT IN PLAIN DAYLIGHT!!!!!!!!!!!
Its okay for them to do it. When the average retailer does it, they shut us down.. POS!!!!!!!
— Chaz Bragg (@Chaz_Bragg) January 28, 2021
Yeah this is a dumpster fyre
— Ben Carlson (@awealthofcs) January 28, 2021
I never had Ja Rule giving me financial advice in 2021 in my planner, and maybe that’s just what I was missing. https://t.co/f8Ft9SlvhB pic.twitter.com/YCQtGLpLBz
— Phil Spain as Cake Gale (@philenespanol) January 28, 2021
Not Ja Rule giving us Stock Market advice. pic.twitter.com/gxU90NCoRg
— NUFF (@nuffsaidny) January 28, 2021
Look, this is not part of my career plan, but I would love to offer up my services to write probably-very-compelling-and-smart narrative nonfiction book about the second act of Ja Rule. pic.twitter.com/wUZxaAy1u2
— mike! (@mikescalise) January 28, 2021
