The Robinhood “free-trading” platform has arbitrarily decided to block all further purchases of GameStop (GME) stock after everyday people, as opposed to uber-wealthy hedge funds, started making millions through a clever trading idea.
It supposedly all began on Reddit when retail investors there decided to buy up stock in GME that the big guys had shorted. They did this en masse and at just the right time, driving up the price of GME stock to astronomical levels, meaning the uber-wealthy will now have to pay out big time.
This obviously upset the establishment, which is used to playing a rigged table that is always in its favor. So, it shut down numerous trading platforms, including Robinhood, to the little guys, while still allowing the big guys to gamble in their usual fixed casino.
Earlier in the month, GME stock was worth about $20 a share. By pooling together their energy and resources, however, ordinary day traders were able to bring it up to around $350 a share on Wednesday before the White House under Joe Biden along with the Big Banks shut it all down.
What is normally a Ponzi scheme that always favors the ultra-wealthy quickly became something that middle class folks could benefit from financially, so naturally it had to be stopped.
Faux conservative Ben Shapiro, an all-around terrible person, was quick to condemn not Wall Street for once again screwing average Americans, but average Americans for both figuring out that the game is rigged and learning how to beat the Wall Street criminals at their own game.
Others with a soul, however, were quick to point out the obvious: that the stock market is a phony piece of garbage that exists nowadays for the sole purpose of making the rich richer, and the poor poorer.
It took rapper Ja Rule, of all people, along with Rep. Alexandria Ocasio-Cortez (AOC), to tweet the truth that Robinhood, TD Ameritrade, and other stock trading platforms are illegally favoring hedge fund investors at the expense of retail investors.
“We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit,” AOC tweeted.
Someone named Michael Handschuh added that:
“In case it wasn’t obvious yet, they’ll do anything to prevent retail from making lots of money in the stock market. Robinhood just proved this by removing $GME, $AMC and more,” AMC, of course, referring to AMC theaters, which retail traders had also chosen to invest in along with GME.
“Is @RobinhoodApp really blocking $GME sales so these f***ing hedge funds can cover their short?” tweeted yet another. “Disgusting.”
“Funny to see @RobinhoodApp promoting Finance Democracy whilst blocking people who are exactly exercising finance democracy from buying $GME, $AMC and $NOK,” tweeted yet another.
In other words, everyone can now clearly see that the same criminals who were bailed out with American taxpayer dollars during the 2008 market crash are now rigging the system once again in their favor, stealing from others what is rightfully theirs.
Nobody who is participating in the GME stock buy-up is doing anything illegal, it is important to note. They are just smart and educated themselves about the rig, and attempted to use it in their favor just like the hedge funds do to everyone else who is not uber-rich.
“Somebody is going to have to explain to me in what world [Robinhood] and others literally trying to force a crash by closing the open market is fair?” tweeted DDTG Global owner Dave Portnoy. “They should all be in jail.”
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