In the latest $GME saga, see yesterday's post here, the popular investing app Robin Hood has pulled GME and AMC from their app, restricting trading to "closing positions only"; you can't buy, you can sell. As a Robin Hood user, I'm livid. Robin Hood is citing "increased volatility" yet I'm still able to buy dozens of the shittiest cryptocurrency imaginable. Someone who works in the market told me the most likely response of "increased volatility" means "we're scared of regulators". Regardless, this is clear manipulation of the market. GME, which started the day down huge, has climbed back into the green. I'm in the process of switching from Robinhood, anxious to get the app deleted off my phone as soon as possible.
UPDATE: Robinhood has informed users that it plans on allowing "limited" trading on these stocks tomorrow, 1/28. GME finished down 152 points today, a 44% loss. The game is rigged folks. I've read it compared to a piteous walking in and switching your cards and the dealers cards while everyone is watching. It's unfair and while my little protest of deleting their app off my phone won't hurt them, hopefully the class action lawsuit will.