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  • The GameStop stock explosion.

  • You know, it's the reason your 14-year-old cousin

  • just bought a Ferrari.

  • Traders on Reddit sent the stock soaring this week,

  • causing billions in losses for the hedge funds

  • that bet against the video game retailer's stock.

  • And today, Wall Street decided: Enough was enough!

  • And this is a Fox News Alert now.

  • Draw your attention to Main Street,

  • where GameStop and AMC shares have been tumbling

  • in trading action today, as a growing number of firms

  • move to halt trading on some stocks

  • boosted by amateur traders on Reddit.

  • The action is so wild that TD Ameritrade and Robinhood

  • have restricted trading of these stocks.

  • Wells Fargo also banning its advisors

  • from telling clients to buy or sell GameStop and AMC.

  • NEWSMAN: And now the criticism centered on Robinhood

  • for abandoning their followers here

  • in favor of helping those who had shorted all these stocks

  • in the first place.

  • I don't particularly like the move on Robinhood today.

  • I'm talking to people this morning that say,

  • "Okay, that is anti-capitalism. You can't do that."

  • A class action complaint was just filed

  • in the Southern District of New York against Robinhood.

  • Um, and this is what part of it says, and I'm quoting...

  • "...purposefully, willfully and knowingly,"

  • Robinhood removed the stock, GME, GameStop,

  • "from its trading platform"

  • in the midst of an unprecedented stock rise,

  • thereby, it goes on, "manipulating the open market."

  • Yeah, that's right, people.

  • Wall Street was getting rocked so hard

  • by average people buying stock in GameStop,

  • that they just stopped average people from buying it.

  • Yeah. The same guys, the same guys who are always like,

  • "The markets must never be regulated.

  • They must always remain free!"

  • Those same guys are now like,

  • "Oh, shit, the poor people got ahold of the freedom.

  • Turn it off! Turn off the freedom!"

  • So, thanks to this ban,

  • the GameStop stock that a lot of people bought

  • for a ton of money is now worth a lot less,

  • which is probably familiar to anyone

  • who's sold a used game back to GameStop.

  • So, right now, a lot of people are understandably upset

  • about what Wall Street is doing.

  • In fact, it's bringing together people from all sides.

  • I mean, AOC and Ted Cruz

  • are as far apart as Madison and Austen,

  • and even they're both blasting the Robinhood app

  • for blocking users from buying GameStop stocks.

  • Everyone's mad. Even people like Ja Rule.

  • Ja Rule, who tweeted,

  • "Yo, this is (bleep) crime

  • what @Robinhood is doing. Do not sell."

  • Let me tell you something.

  • When the guy who did the Fyre Festival

  • thinks that you're a fraud,

  • man, then you're doing some shady shit.

The GameStop stock explosion.

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Wall Street Tries to Stop Average Investors Cashing in on GameStop| The Daily Social Distancing Show

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    johnny posted on 2021/06/20
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