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AOC, Ted Cruz Agree: Robinhood's GameStop Stock Ban Is 'Unacceptable'

AOC, Ted Cruz Agree: Robinhood's GameStop Stock Ban Is 'Unacceptable'

3 years ago
Anonymous $K6XgmDN5_o

https://www.vice.com/en_us/article/88ae5z/aoc-ted-cruz-agree-robinhood-gamestop-stock-ban-is-unacceptable

Rep. Alexandria Ocasio-Cortez (D-NY) is calling for an investigation into Robinhood, an app used by retail traders to buy stocks. The call for the investigation comes after Robinhood stopped its users from buying GameStop and other Reddit YOLO stocks on Thursday.

“This is unacceptable,” Ocasio-Cortez said in her tweet. “We need to know more about [Robinhood’s] decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services Committee, I’d support a hearing if necessary. Inquiries into freezes should not be limited solely to Robinhood. This is a serious matter. Committee investigators should examine any retail services stock purchase in the course of potential investigations—especially those allowing sales but freezing purchases.”

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