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<div class="at-above-post addthis tool" data-url="https://www.metro.us/robinhood-is-new-eye/"></div>LONDON/SINGAPORE (Reuters) – Online broker Robinhood has been one of the hottest venues in this week’s retail-trading frenzy but its sudden curbs on buying of some hot stocks have raised the ire of customers, celebrities and politicians who argue it unfairly benefits bigger investors. The firm has also tapped a credit line so that it […]<! AddThis Advanced Settings above via filter on get the excerpt ><! AddThis Advanced Settings below via filter on get the excerpt ><! AddThis Advanced Settings generic via filter on get the excerpt ><! AddThis Share Buttons above via filter on get the excerpt ><! AddThis Share Buttons below via filter on get the excerpt ><div class="at-below-post addthis tool" data-url="https://www.metro.us/robinhood-is-new-eye/"></div><! AddThis
January 29, 2021 9:03 a.m.
Rep. Chip Roy (R-TX) on Thursday demanded an apology from Rep. Alexandria Ocasio-Cortez (D-NY) for Twitter comments she made holding Sen. Ted Cruz (R-TX) accountable for a history of dangerous rhetoric that had deadly consequences at the U.S. Capitol earlier this month.
“It has come to my attention that Representative Alexandria Ocasio-Cortez sent out a tweet a few hours ago in which she accused Senator Ted Cruz, in essence, of attempted murder,” Roy, who previously served as Cruz’s chief of staff, wrote in a letter addressed to House Speaker Nancy Pelosi (D-CA).
“It is completely unacceptable behavior for a Member of Congress to make this kind of scurrilous charge against another member in the House or Senate for simply engaging in speech and debate regarding electors as they interpreted the Constitution. I ask you to call on her to immediately apologize and retract her comments,” Roy wrote.
Individual investors, in a movement spearheaded by traders on the social media platform Reddit, have been driving up prices on stocks shorted by hedge funds causing the hedge funds to lose billions of dollars while the investors profit.
He steals from the rich, and gives to the. wait, which side is the poor side now? Share
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The populist online investor uprising to punish Wall Street traders by propping up shorted stocks hit a wall on Thursday when retail brokerage firm Robinhood announced that customers could, for now, sell but not buy eight turbulent securities. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK, the firm said in a blog post earlier today.
Robinhood also said that it had increased the margin requirements for certain securities – the equity required to buy a stock with borrowed funds. The online brokerage appears even to be closing out certain positions for some of its customers without their permission, action specifically allowed under section 31 of Robinhood s Customer Agreement [PDF].