SEC is looking into Robinhood's handling of GameStop trading
Fearing that recent delistings and volatility "undermine market confidence," the U.S. securities regulator says it is looking into the Robinhood fiasco. The U.S. securities watchdog is looking into the affair of Robinhood and the Redditors.At least in so many words. The Securities and Exchange Commission made a joint statement on Friday expressing concern over the "extreme price volatility of certain stocks’ trading prices over the past several days."Though the commission didn't use the words "GameStop," "Robinhood," or "Reddit," it's obvious that what the commission is talking about is....
Related News
Regulators want to know the details of the GameStop short squeeze. Robinhood CEO Vlad Tenev will reportedly testify before the United States House Financial Services Committee over the firm’s role in the volatile trading of GameStop and other volatile stocks.According to a report by the American political publication Politico, Tenev is expected to participate in a virtual hearing headed by Representative Maxine Waters (D-Calif.) on Feb. 18. Politico’s report cited anonymous people familiar with the matter.Waters officially announced the Financial Services Committee’s plans to hold a....
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....
The byzantine world of the public U.S. securities market killed the GameStop pump (sort of).
Robinhood didn't halt GameStop trading to punish retail players; it reacted to market risk. And, no, blockchain wouldn't have fixed this.
When Robinhood halted the trading of GameStop securities, it showed that only by opting out with Bitcoin can one control their own money. The post GameStop Is The Market Crying Out For Bitcoin appeared first on Bitcoin Magazine.