Ted Cruz Joins Democrats in Bipartisan Condemnation of Robinhood for Suspending Trading: ‘This is Beyond Absurd’
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Who would have thought GameStop would be the company to finally bring unity to a divided nation?
Sen. Ted Cruz (R-TX) and Rep. Alexandria Ocasio-Cortez (D-NY), in addition to several other politicians from both sides of the aisle, have vocalized their condemnation of stock trading app Robinhood’s decision to block lay investors from purchasing GameStop stock.
Robinhood’s suspension of trading came after a shock boom (and quick fall) of GameStop stock prices, spearheaded by Reddit users on message board
Ocasio-Cortez went as far as to say that she would support a hearing to examine Robinhood’s decision:
This is unacceptable.
We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.
As a member of the Financial Services Cmte, I’d support a hearing if necessary. https://t.co/4Qyrolgzyt
— Alexandria Ocasio-Cortez (@AOC) January 28, 2021
“We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit,” Ocasio-Cortez wrote. “As a member of the Financial Services Cmte, I’d support a hearing if necessary.”
The representative’s strong take earned her support from other Democrats, in addition to some unlikely advocates:
Fully agree. ? https://t.co/rW38zfLYGh
— Ted Cruz (@tedcruz) January 28, 2021
Wall Street colluding with Big Tech to in a clear Securities Exchange Act violation and Sherman-Anti Trust violation to stop lawful trading by individual investors. You can’t change the rules because you’re losing. #DeleteRobinhood #reddit #reddittraders https://t.co/qRQDArn71M
— Paul Gosar (@DrPaulGosar) January 28, 2021
Yes @aoc. We need an investigation into RobinhoodApp’s decision and who influenced that. And this shows the need for a financial transaction tax on hedge fund shorting and SEC regulations on short selling practices. https://t.co/mYX8Ab3JwH
— Ro Khanna (@RoKhanna) January 28, 2021
Robinhood pic.twitter.com/ybxnfavfCS
— Matt Rosendale (@RepRosendale) January 28, 2021
This is beyond absurd. @FSCDems need to have a hearing on Robinhood’s market manipulation. They’re blocking the ability to trade to protect Wall St. hedge funds, stealing millions of dollars from their users to protect people who’ve used the stock market as a casino for decades. https://t.co/CGkJxVfzkv
— Rashida Tlaib (@RashidaTlaib) January 28, 2021
Robinhood must be investigated. Are they doing this to protect one of their major customers who has invested in these short sellers? https://t.co/0qQowAVpm5
— Rep. Steven Woodrow (@WoodrowForCO) January 28, 2021
We’re RT-ing AOC unironically.
Never thought this day would come, but here we are. https://t.co/D16gWYQPfX
— Young Americans for Liberty (@YALiberty) January 28, 2021
Although not politicians, Meghan McCain, Donald Trump Jr., and Fox News’ Katie Pavich weighed in to back Ocasio-Cortez’s criticism of Robinhood:
Yea I don’t recall the part of the story when Robin Hood sells out and starts to be a mercenary for the crown…
Apparently everyone has a price. #ToTheMoon #GameStop ??? https://t.co/WPeItjQi9q
— Donald Trump Jr. (@DonaldJTrumpJr) January 28, 2021
I’m in ? agreement with you! https://t.co/BtpJowxx83
— Meghan McCain (@MeghanMcCain) January 28, 2021
Do it! https://t.co/p9xkpaZWPU
— Katie Pavlich (@KatiePavlich) January 28, 2021
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