General World News

A leading progressive Democrat slams Robinhood’s move to restrict trading on some stocks after Reddit-fueled surge

Rep. Ro Khanna

Summary List Placement

A prominent House Democrat slammed Robinhood’s move to restrict trading on some stocks like Gamestop and endorsed the idea of holding a congressional hearing on the popular trading app’s decision.

Rep. Ro Khanna, a leading member of the Congressional Progressive Caucus, said there was “visceral anger” at hedge funds for their role propelling economic inequality in the United States. 

“Everyone on Robinhood should have equal access for trading,” Khanna said in an interview with Insider. “They can’t just shut down trading for retail investors and not hedge funds.”

He urged additional regulations on Wall Street such as tougher details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: BusinessInsider.Com