We all knew that places like TD Ameritrade and Schwab would halt GameStop Stock, but did anyone have Robinhood mucking up the Wall Street greatness for Reddit outsiders?
Joining others, such as Wells Fargo, numerous stock exchange places and the like have decided to avoid allowing people to snag up stock for GameStop and other weirdo penny stocks like Blockbuster because… reasons. They’re nefarious of course, but only those literally on Wall Street are allowed to exploit a broken system, apparently.
“In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities,” a spokeswoman for TD Ameritrade told MarketWatch. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.”
A spokesperson for Schwab also told MarketWatch:
“restrictions in place on certain transactions in GME and other securities.”
Hooray, life or something. I watched Boiler Room like three times, so I’m an expert at life and stocks and STONKS.
And here comes a liar!
We are all investors. Our time is now. pic.twitter.com/N9gWu0gU5c
— Robinhood (@RobinhoodApp) December 23, 2020
The kicker here is Robinhood, an application used by many to do some trading acting very much the opposite of how Robinhood would act in this situation, also stomping out hopeful users’ abilities at being able to snag up some GameStop, AMC and other newly upped in value stocks.
2020 had a global pandemic. I suppose we’re starting off 2021 with some stock exchange tomfoolery. Nonetheless, shame on you, Robinhood. Live up to your namesake!
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