Business
GameStop chaos: Real reason Robinhood cut off retail investors – The Motley Fool Australia
The share trading platform cited extreme volatility for blocking users. But the real motivation is far simpler.
The GameStop Corp (NYSE: GME) frenzy this week was controversial enough, but $0 brokerage trading app Robinhood poured petrol on the fire overnight.
The platform cut off retail investors from trading in GameStop shares and other short squeeze targets on Thursday night Australian time, citing excessive volatility and “risk management”.
The move immediately drew criticism, with politicians on absolute opposite ends of the spectrum blasting Robinhood.
“This is unacceptable. We now need to know more…
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