So continuing on from yesterday where Reddit users have been in solidarity with respect to buying massive amounts of GameStop stock. Their aim was to hurt the hedge funds that profit from falling stock. A lot of the trading was done on the Robinhood free app which allows people to trade small amounts of stocks however, today they decided not to live up to their name, and halted purchases of GameStop stock as well as other similar companies.
They claimed this was due to recent "volatility", and barred purchases of new stock from GameStop, AMC, BlackBerry, Bed Bath and Beyond, Koss headphones, Nokia as well as others. They also raised margin requirements for some securities so users will have to find more money which will inevitably favor and benefit those with more cash. In addition they also have been illegally selling bought stocks
And.. listen to this. Robinhood admits that one hedge fund that was suffering a lot was Melvin Capital Management and Citadel who has since bailed out. Citadel's founder is Ken Griffin who also founded Citadel Securities who (you guessed it) is a big investor in Robinhood and also works with TD Ameritrade and Charles Schwab.
To make matters worse, Biden's newly appointed Treasury Secretary Janet Yellin has personal interest in the situation. She was paid over $800,000 for speaking engagements in 2019 and 2020 by Citadel who has invested billions of dollars in the primary hedge fund now suffering as a result of the GameStop stock surge. You know.. the same Janet Yellin who Press Secretary Jen Psaki confirmed on Wednesday Jan 27, that she was "monitoring the situation"
The Reddit traders were able to exact revenge against the Robinhood app with a wave of one-star Google app store reviews.
Guys.. this is part of the Deep State "shenanigans". (to put it nicely). Remember, if you're a Conservative.. always do business with a Conservative and help build our "Brand" from the inside out!