The GameStop story is the story that just won't stop. With Robinhood's restriction on buying GME and other securities yesterday, the company's action (and its financial connections) has drawn the eye of regulators, investors, and Congress, and even one instant lawsuit.
So what does it all mean? Why was Robinhood closing out investors throughout yesterday? And what exactly can Saved by the Bell's Zach Morris teach us about any of this?
When Congress is preening and investors are screaming, you've had a bad day...in Virtual Legality.
#GameStop #Robinhood #Lawsuit
Discussed in this episode:
Nelson vs Robinhood [Group]
Filed January 28, 2021
Best Execution and Interpositioning
FINRA Rule 5310
"Bloomberg Users Suing Over Trade Limits Face High Legal Bar"
Bloomberg Law - January 28, 2021
Robinhood Customer Agreement
Updated December 30, 2020
https://cdn.robinhood.com/assets/robinhood/legal/Robinhood Customer Agreement (June 22) (1).pdf
"E-Trade confirms it halted GameStop and AMC stock, will let you buy some Friday"
The Verge - January 28, 2021
"An Update on Market Volatility"
Robinhood Blog - January 28, 2021
"Best take I’ve seen."
Tweet - January 29, 2021 - Joe Morrison, Jr.
"A Little GameStop/Robinhood Perspective:"
Twitter Thread - January 28, 2021
"They are automatically selling shares."
Tweet - January 28, 2021 - Sunny
"Buying on Margin"
"Introducing Robinhood Instant"
Robinhood Blog - February 23, 2016
"S1E3: “Wall Street”"
Saved by the Blog - January 12, 2103
"I seen this tweet and was wondering if this changes anything from today’s video?"
Tweet - January 29, 2021 - Kona Gaming
CHECK OUT THE REST OF VIRTUAL LEGALITY HERE: https://www.youtube.com/playlist?list=PL1zDCgJzZUy9YAU61GoW-00K0TJOGnPCo
DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.
Joe Ellis (Logo Design)
Chris Leroux (Motion Graphics)
For more information: contact Chris at @Chrisleroux on Twitter.
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