Robinhood Restricts Trading
Robinhood Restricts Trading to GameStop, AMC, Nokia, Blackberry, and even the cryptocurrency Dogecoin. All this so they can stop wallstreetbet and retail investors from continuing their short squeeze strategy against these heavily shorted stocks. If you log in to your Robinhood account this morning hoping to buy shares in Gamestop or AMC Theatres, you would have been greeted with the message “Due to ongoing volatility, some securities like AMC and GME are position-closing only.” This move by Robinhood clearly shows where its loyalties lay, and it’s not with their motto “Democratizing finance for all.”
Robinhood Just Gave Cashapp and Webull the Best Advertisement Piece.
Robinhood’s move to restrict trade on Reddit ‘Wall Street Bet’ stock picks just gave their rivals the perfect advertisement piece. Robinhood’s stated call mission is to Democratize Finance and the Markets, which honestly they have been doing. However, this move clearly shows that Wall Street Executives and hedge funds still hold all the power in the stock market and Robinhood Might just be paid opposition.
Cash App and Webull, and other fintech trading platform can use this moment to poach Robinhood traders to their platform. If they can promise retail investors neutrality, even when threatened by the big and powerful Wallstreet, then they can poach traders from Robinhood.
It’s rather unnerving to put your money on a platform that can make arbitrarily make decisions that can cause you to lose money.
Should I Sell out of Your Positions on Robinhood?
Honestly, Yes. I would advise you to sell now, especially if you can still make a profit. There is no telling when Robinhood will lift their restriction or even if they will, and the longer their restriction is in place, the more the stock price of AMC and others will fall.
Take your profits now and live to fight another day. As long you the people unite, you can achieve great things despite all the obstacles. Keep investing smartly.
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