Business Contents Archive

'Absolutely': Elon Musk agrees with AOC's call to hold hearings on Robinhood barring GameStop purchases https://t.co/EZ02gmesHd

BREAKING: Robinhood has drawn down some of its credit lines with banks, tapping at least several hundred million dollars https://t.co/p8048pphhp https://t.co/k0GlV3Rp9z

Robinhood Markets was almost immediately hit by lawsuits from customers after restricting transactions on certain stocks including GameStop https://t.co/tcj9m8YFar

Democrat Alexandria Ocasio-Cortez says the restrictions placed on high-flying stocks by Robinhood and other platforms demand closer scrutiny, a sentiment that was also backed by Republican Ted Cruz https://t.co/tmwua4Pkpn

A class action lawsuit was launched against Robinhood in New York, after the online brokerage restricted customers' ability to trade in several high-profile shares including GameStop https://t.co/kNuGQEQg7i https://t.co/P4JmN1h1L2

Reddit investors have discovered silver: Spot prices soared as much as 6.8%, the biggest jump since August https://t.co/D0hsb7l6iH

For once, Main Street is beating Wall Street. In a matter of weeks, two hedge-fund legends — Steve Cohen and Dan Sundheim — have suffered bruising losses as amateur traders banded together to take on some of the world’s most sophisticated investors. Another fund, Gabe Plotkin’s Melvin Capital, lost 30%. Driven by the frenzied trading in GameStop and other stocks that hedge funds have bet against, the losses suffered over the past few days would rank among the worst in some of these money managers' storied careers. Link in bio for more.

● In an interview with Bloomberg Editor-in-Chief John Micklethwait, one of the people most responsible for helping to vaccinate the world against Covid-19 discusses how his company is navigating the pandemic. Click the link in our bio to read the full interview with Pfizer CEO Albert Bourla.⠀ ⠀ ● Photo: maegangindi

Dogecoin, a digital coin started as a joke, surges 77% along with the frenzy in Reddit stocks https://t.co/bRwFBqqcCL

Robinhood and Interactive Brokers curbed trading in stocks including GameStop and AMC, provoking outrage from users who had pumped up the shares in a Reddit-inspired frenzy. The restrictions are the latest twist in a battle that has pitted enthusiastic amateurs against professional traders, resulting in billions of dollars of losses for hedge funds. Users were quick to express their frustrations over a platform that touted easy access and democratization of Wall Street. Link in bio for more.

Robinhood and other brokers literally blocking purchase of $GME, $NOK, $BB, $AMC; allow sells

See title. Can't buy these stocks on RH, but can sell. What the hell is this? How is this legal?

● GameStop's momentous rally came to a halt Thursday as online trading platforms like Robinhood Markets stopped clients from purchasing its shares.⠀ ⠀ ● The shares erased an earlier rally and fell as much as 28% to $249.73 at 9:00 a.m. in New York after clients of Robinhood reported that they were unable to trade high-flying stocks, including GameStop and AMC.⠀ ⠀ ● Those stocks and others are “not supported” on Robinhood, according to a note on at least one of its platforms Thursday. On Wednesday, Charles Schwab's TD Ameritrade also curtailed transactions on GameStop, AMC and other securities.⠀ ⠀ ● GameStop had surged more than 40% earlier, momentarily pushing the stock above $500.⠀ ⠀ ● Last week, we predicted that Robinhood CEO Vlad Tenev would be in the hot seat in 2021. Read our prediction by clicking the link in our bio.

You know hype can be dangerous. You know stock picking is risky. You know markets crash. And yet… Everyone's talking about AMC, Blackberry and GameStop — even Elon Musk. And some people are making serious money. Are you missing something, or are you better off missing out? Tap the link in bio for our beginner's guide. 🚀

Cooped up at home, glued to Reddit and Stocktwits chat forums, empowered by Robinhood accounts — America’s new band of day traders is behind one of the great financial manias in recent history. Fringe, oddball stocks have seen stratospheric gains thanks to frantic bidding by at-home traders. Even as the broader stock market sank, shares loved by users on chat forums soared. To capture how fast and furious the action is and how extreme the price swings — and the trash-talking — are, Bloomberg News tracked Wednesday’s events in real time. See more at the link in bio. 🚀

Reddit users claim victory as $13bn hedge fund capitulates on GameStop