Shares rose after Robinhood suspended trading


Major US stock indices rose after Robinhood was forced by SEC to suspend trading of Games Stop and AMC, which skyrocketed after small investors manipulated shares via social networks and all started buying which pushed them high. This cost shorsellers, mainly big hedge funds $1,6 billion and many of them were forced to closed their possitions, so these small investors were able to pull off short squeze. Since it was organized SEC started to investigate this and Robinhood stopped trading with these shares short after. This was criticized by both small investors who started boyoting this app and Democratic congresswoman who represend far left socialist wing Alexandra Ocasio Cortez. Despite this, big investors are happy as its easier to predict big banks and hedge funds than lots of small investors and major indices rose and is expect they will continue to do so next week. (McCabe, Wall Street Journal)

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