04:34 GMT 29.01.2021(updated 05:31 GMT 29.01.2021) Get short URL
Alexandra Kashirina. Sputnik International
On Thursday, investing platform Robinhood imposed restrictions on selling stocks of a number of companies after some Reddit users agreed to buy up GameStop’s call options, raising the retailer’s shares to unprecedented levels.
Dozens of protesters joined a demonstration at the New York Stock Exchange on Thursday to blast stock trading app Robinhood’s ban on buying the shares of some companies, including GameStop.
Some of the demonstrators held up a banner that read “Tax the rich”. People with were proclaiming “What fair is fair, now pay your share!” and “F**k Robinhood”.
“Robinhood took all my GameStop stock and without telling me, they took it out of my account. We couldn’t buy AMS today, we couldn’t buy Nokia today, because Robinhood didn’t allow it. They only allow me to sell it, because GameStop got shorted”, a protester complained.
– NY: Protests today outside the New York Stock Exchange Robinhood has limited buys for Game Stock, NOKIA & AMC and other companies after dramatic price surges pic.twitter.com/kRQ5pePcMt
— Harry (@_TheCoolTwin) January 29, 2021
According to the New York Post, some individuals were screaming “Shame!” and “Eat the rich” at people leaving the building. Others held up letters that spelled out “Tax Wall Street Trades”, declaring “I want my money. I want it now” and “We want a free market”.
2/ Stonewall Protest has reached Wall Street. On the steps of the New York Stock Exchange demanding that the charges be dropped! “Not tomorrow, now!” pic.twitter.com/lDZogEuKSc
— @TheIndypendent (@TheIndypendent) January 29, 2021
Outside the New York Stock Exchange
Somebody told protestors to “get a job”
This is what happened after that.
— Not My President, Presidential Occupant Biden (@CplChaskoIV2) January 29, 2021
BLM activists also attended the protest.
The demonstration occurred after Robinhood restricted stock trades for GameStop, AMC Entertainment Holdings, American Airlines, Bed Bath & Beyond, BlackBerry Limited, Express Inc., Koss Corp., Nokia Corp., Naked Brands Group, Tootise Roll, and Trivago.
The investing platform took the measure after a group of Reddit users banded together to purchase GameStop’s call options earlier this week, causing the company’s once slumping shares to skyrocket, and bankrupting market short-sellers.