On this blog, the market news is one of the components I like to cover as content.
As of recent for the week of January 25th, the GameStop stock has attracted large media coverage from Twitter, Reddit, and media outlets for its meteoric rise due to retail traitors and opposition to shorts.
On January 28th, 2021 Robinhood halted all trading on popular companies like GameStop, Blackberry, AMC, and others. This means the retail trader or “wallstreetbets traders”, could not buy the stock and only sell due to being popular among traders. This action conflicts with the principles of the free market and Robinhood has put itself in the spotlight for dictating what can or cannot be bought.
This story continues to develop. Here is a meme to represent it.
- Trading View (https://www.tradingview.com/chart/VmjUJ51g/), Accessed January 28, 2021
- CNBC (https://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html), Accessed January 28, 2021