Can someone explain or give me the link to what happened with Robinhood and GameStop yesterday? If they are related. - The Great Awakening - Where We Go Qne, We Go All!

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Can someone explain or give me the link to what happened with Robinhood and GameStop yesterday? If they are related.

posted 3 years ago by Fogmouth 3 years ago by Fogmouth +5 / -0

Kind of confused. Should I dump Robinhood?

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– kkuff 4 points 3 years ago +4 / -0

I'm not an expert but my understanding is that Robinhood is an app where you can buy/sell from the stock market. And, because of what was going on with GameStop, they removed the option to trade that stock on their app. As far as what was going on with GameStop, can't explain it rationally. All I know is that what happened really screwed with how things are "normally" done, which messed up the whole system. However, it was white hats (good guys) going up against the big (bad) guys.

Someone correct me if I'm wrong.

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– cryofreeze 2 points 3 years ago +2 / -0

Hedge funds and Wallstreet shorted 113% of GameStop stock. In order to cover those shorts, they need to buy it all back. Reddit and 4chan are buying and controlling as many shares as they can preventing the buy back at any price, pushing the price up.

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