The huge financial drama surrounding the US markets right now with Reddit and its fully viral r/WallStreetBets pushing GameStop and AMC shares through the roof. Well, Robinhood is stopping retail investors from getting in on the wave, and even selling their shares automatically.
Robinhood users began noticing their $GME shares being sold without warning, with Robinhood alerting users that due to "recently volatility, we are restricting transactions for certain securities to position closing only. However, due to unreasonable risk involved in brokering your position, we have closed your 4,500 shares of GME for an average price of $118.93 on January 28th, 2021 at 11:24 AM".
Popular Now: Shuhei Yoshida and Adam Boyes recreate PlayStation's famous disc-sharing meme, this time with no physical gameThe notice from Robinhood continues: "Your trade confirmation will be available in your order history on Robinhood in one trading day".
Nevermind that GameStop stock was $450+ -- but hey, can't have the little guy doing what the big guy does, and getting away with it. You see, they don't like you taking a look behind the veil and pulling the levers yourself. This is only going to get bigger.
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- Read more: This Redditor turned $755K into $48 million thanks to GameStop stock
- Read more: Why GameStop's stock has spiked 671% in a week
- Read more: Reddit trollers + Elon Musk pump GameStop share price to record highs
