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May 25, 2022

U.S. Voters

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Wall Street IMPLODES After Consumers Beat Them In Their Own Game

1 min read

Wall Street has a meltdown after consumers give them a taste of their own medicine. John Iadarola and Benjamin Dixon break it down on The Damage Report.

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Read more here: https://www.cnet.com/personal-finance/robinhood-app-td-ameritrade-restrict-trading-of-gamestop-amc-stock/

"GameStop’s stock has continued to make big moves, briefly crossing $450 a share on Thursday, fueled by Reddit users collectively taking on Wall Street. But individual investors looking to make trades have faced multiple issues on trading sites and apps over recent days, with many experiencing service disruptions, according to Bloomberg. The frenzy over GameStop stock has led to TD Ameritrade and Robinhood restricting new purchases of particular stocks (GameStop and AMC, amongothers). It also led to the Wall Street Bets subreddit temporarily getting locked and a Discord server getting shut down for violating terms of service."

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