Gamestop Gate What Did Robinhood Do Exactly And Why Opinion
GameStop-Gate? I don’t know about you, but I find the GameStop war between day traders from Reddit and its forum, r/WallStreetBets, and the hedge funds really entertaining. And I’ll also tell you this: the investigations by the Securities and Exchange Commission (SEC) and Congress are going to be even more entertaining. But to catch you up, here’s the abridged version of what’s been going on. (Unabridged details here.) Day traders on Reddit, via the no-fee brokerage app Robinhood, have been running up the price of GameStop stock—and other companies like troubled movie chain AMC and Tootsie Roll— to punish the short sellers betting that the companies’ shares would decline....