Finally! Someone’s sticking up for the little guy on Wallstreet, and by little guy I mean all the morons who bought meme stocks like I did. Apparently in the wake of “AMC-gate” there have been dozens of class action lawsuits filed against the private trading platform over the past year. Why? Probably because they completely froze any trading for anyone on their app who owned “meme stocks” such as AMC and GameStop.
Their reasoning? Well, they claim it was due to a lack of capital to back up trading volumes for these stocks, but in reality they were covering their own asses and protecting their hedge fund buddies from losing hundreds of millions on shorted stocks. In reality the only people that actually lost money were the Robinhood customers who actually thought our market was fair and not rigged.
But there’s light on the horizon for us Wallstreet peasants. Apparently the U.S. Attourney’s Office has seized Robinhood CEO Vlad Tenev’s phone to look deeper into the trading hault on meme stocks earlier this year. And with their IPO set to happen any day now they’re sure to get a taste of their own medicine when it completely flops.
Honestly, all this scandal does is make two things clear: One, the markets are rigged and nobody who actually runs Wallstreet will ever lose money there. And two, don’t ever buy a “meme stock” because it’s a running joke. Just stick to buying Dogecoin the rest of us imbeciles.