Per Reuters:
Stock trading platform Robinhood Markets Inc, $HOOD, must face market manipulation claims over restrictions it placed on trading during last year's "meme stock" rally, a U.S. judge has ruled.
The day after GameStop reached its peak, Robinhood abruptly restricted trading in some meme stocks, claiming that it had been forced to do so by a liquidity crunch, Wall Street rules and clearinghouse limits. The restrictions caused the stocks to plunge, prompting other lawsuits congressional hearings and an SEC investigation.
Unusual Whales has called them out numerous times, most famously: https://twitter.com/unusual_whales/status/1354815929654276100?s=20&t=91ZCliFhTpuF15XJrJd-4w
Previously on Jan 27th, a U.S. federal court dismissed a lawsuit accusing Robinhood Markets Inc of violating state laws by restricting trades on so-called meme stocks during a January 2021 rally, a move that retail traders allege resulted in billions in losses.
See HOOD flow: https://unusualwhales.com/flow/ticker/overview?symbol=hood
Robinhood must face U.S. market manipulation claims over 'meme stock' rally
8/11/2022
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