Rob from the poor and give to the rich? Robinhood prompts furious backlash after restricting trades
The volatility seen on the stock markets this week made some of Bitcoins recent price swings look tame. And its all down to a dramatic face-off between a Reddit group called r/Wallstreetbets and the short-selling hedge funds that Reddit took on at their own game.
Day traders have helped GameStop (NYSE:) stock surge from $17.25 on Jan. 4 to highs of $483 this week a 2,700% rise for a retailer struggling to survive in an online world. This inflicted billions of dollars of pain on established investors caught up in the short squeeze.
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