Robinhood can now add a class action lawsuit to its growing list of headaches after it said it would restrict users from trading GameStop and other stocks. A class action lawsuit was filed in New York Thursday, alleging that Robinhood “deprived their customers of the ability to use their service,” in an effort “to manipulate the market for the benefit of people and financial intuitions.”
GameStop, a company that was expected to close hundreds of stores in 2021, has made a stunning comeback in the stock market. And it’s all thanks to an army of Reddit users who were gutsy enough to take on big Wall Street.
Last year, steep declines in Chinese stocks were periodically followed by dramatic, if less severe, declines in U.S. and European stocks.
On 2016’s first day of trading, it’s more of the same.
Mobile payment service Square filed for an initial public offering (IPO) today. Here’s what it means…