by Brandon Butler
Robinhood blocks GameStop stock buying 1/28/2021

Jordan Pearson for Vice:

Robinhood, the fee-free investment app that has helped Redditors and other retail investors pump dark horse stocks like GameStop, AMC, BlackBerry, and Nokia, has stopped allowing users to buy those stocks and other YOLO picks.

Then Robinhood was hit with a class-action lawsuit for blocking the trading of the stocks, and then Rep. Alexandria Ocasio-Cortez (D-NY) posted on Twitter that Robinhood’s actions are “unacceptable” and should be investigated.

Webull and Public, two other popular stock trading apps, also stopped the trading of these stocks for a few hours but have since resumed, placing the blame on their clearing house Apex and the rising costs of trading these highly volatile stocks.

And it’s not even noon yet!