The United States has witnessed an uncanny amount of regulated business practices in the past couple years, and now the stock market. It’s not news to anyone of the shady business tactics that Wall Street investors utilize, but now more than ever is it obvious the extent of manipulation. Robinhood, is the latest trend that has been sweeping stocks utilizing a simple user-based investment system that turns average working-class members into Wall Street investors.
Earlier this week Reddit users have teamed up and constructed a gorilla style tactic where investors all dump funds in the same shares. This jacked up the price of companies such as AMC Entertainment, GameStop, Nokia and now a coin based crypto currency known as Doge coin. The restriction has been made to every user and will only allow users to sell their stocks for these companies rather than buy them. This is book definition of market manipulation, making an unfair advantage for big businesses.
Individual stock investors have been limited in purchase amounts so that big businesses can keep their high-cost stocks and not have to worry about losing value they bought on hedge funds. The idea of restricting American people from being able to participate in a bull market just shows the corruption that is circulating in our financial system. The American way is equal opportunity, which has been stripped from small time investors of their opportunity. Robinhood has gone to the extent of completely shutting off stocks in order to protect their own firm’s assets to ensure that they only profit off its users. Updates on the situation will be made promptly.
Written by: Charlie Alvitre