The U.S. securities watchdog is wanting into the affair of Robinhood and the Redditors.At the very least in so many phrases. The Securities and Tra
The U.S. securities watchdog is wanting into the affair of Robinhood and the Redditors.
At the very least in so many phrases. The Securities and Trade Fee made a joint assertion on Friday expressing concern over the “excessive worth volatility of sure shares’ buying and selling costs over the previous a number of days.”
Although the fee did utilizing the phrases “Gamestop,” “Robinhood,” or “Reddit,” it is apparent that what the fee is speaking about is the current chaos surrounding the three. It is already attracted main regulatory strain. The SEC did, nevertheless, specify:
“The Fee will carefully assessment actions taken by regulated entities which will drawback buyers or in any other case unduly inhibit their capacity to commerce sure securities.”
Robinhood, already the topic of monumental backlash from its customers, is clearly within the sights of this announcement. It isn’t unprecedented for Robinhood to close down buying and selling on GME and different shares; it’s, nevertheless, suspicious that the agency minimize off shopping for however not promoting.
This story is growing and will likely be topic to updates.