Retail Traders Sue Robinhood Over Meme Stock Restrictions

Retail Traders Sue Robinhood Over Meme Stock Restrictions

GameStop, which had been soaring for days on short squeezing and mass speculation, began tumbling after the major retail trading hub implemented the hold.


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Robinhood reportedly allowing instant deposits for crypto purchases again as ...

The feature was originally suspended on Jan. 29. Stock and crypto trading app Robinhood has reportedly re-enabled instant deposits for cryptocurrency purchases after almost a week.Robinhood has removed the original update on its support page suspending instant deposits, and its website currently shows certain users once again have "instant access" to up to $1,000 to buy crypto. Many of the app’s users also reported on social media they were able to access the trading feature last night.The "instant buying" function is a paid feature that gives Robinhood customers instant access to funds....

Congress announces hearings on stock market in light of Robinhood v. Reddit b...

Both the Senate and the House are looking into Wall Street's market practices, especially short selling. Legislators are responding fast to the madness surrounding Gamestop and AMC shares and the hedge funds selling them short.On Jan. 28, Chairwoman of the House Financial Services Committee Maxine Waters announced a coming hearing on short-selling. Sherrod Brown, the incoming chairman of the Senate Banking Committee, similarly called for a re-examination of stock market rules. Short selling has been the subject of widespread controversy as the past two days have seen wild volatility for....

Robinhood users are still limited to one GameStop share

As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GameStop, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Friday, CNBC reported.As per the new....

Robinhood suspends instant deposits for crypto purchases over DOGE spike

Market mayhem continues as WallStreetBets takes on crypto. Stock and cryptocurrency-trading platform Robinhood has temporarily disabled instant deposits for cryptocurrency purchases as of Jan. 29, citing "extraordinary market conditions."Users are still able to buy cryptocurrency using settled funds that have previously been deposited, although such deposits can take up to five business days to clear.A Robinhood spokesperson told CNBC that the company would "keep monitoring market conditions and communicating with our customers.Robinhood has faced recent criticism for suspending trading in....

Federal attorneys are investigating meme-led trading in GME, AMC and silver: WSJ

The Justice Department joins CFTC and SEC probes into wild markets facilitated by Robinhood and other apps for retail traders. The Department of Justice is reportedly the latest to turn up the heat on last month's crazed markets.Citing unnamed sources, the Wall Street Journal reported on Thursday that the DoJ's fraud division and the San Francisco district attorney's office had launched probes into the brokers (read: Robinhood) and social-media platforms (read: Reddit) who were at the center of wild bull markets on stocks like GameStop and AMC weeks ago. A number of agencies have announced....