“Just like when Americans organized a movement to leave big tech and avoid censorship, the Robinhood scandal is similar because it was about the average retail investor trying to take down the hedge funds who are working together to short the market. Like Google and Amazon who took down Parler to stop competition, Robinhood was essentially trying to do the same thing by blocking the trades from occurring on its platform. The optics are also suspicious as Citadel bailed our Melvin Capital who had one of the biggest short positions in GameStop,” says Krysia Lenzo, Executive Director of Harvard in Tech.
Additional talking Points:
-Robinhood only made the problem worse by stopping trading. The firm also has been caught doing this in Dec 2020 and was fined by the SEC $65million which few outlets are reporting for not acting in the best interest of their investors
-GameStop is a populist revolt against the elites and another movement against funds invested heavily in silver and other commodities may be next
-It is imperative that the SEC and the SDNY look into this case because if there were market manipulation, it should be stopped
-The Reddit users are the new “Wolves of Wall street” as they are exceptionally skilled and intelligent, they’ve found where short-positions are listed and that information is spreading like wildfire.