Rep. AOC Calls Out Sen. Ted Cruz After He Tried To Join Her Fight Against Robinhood
The story about Reddit users gaming the stock market at the detriment of hedge fund managers has caught everyone’s attention. Rep. Alexandria Ocasio-Cortez is ready to go after Robinhood for their action to stop people from gaming the system that the elite and rich game every day.
Rep. Alexandria Ocasio-Cortez is ready to take on the Robinhood app for intentionally disenfranchising people using the stock market.
There is a lot of buzz about the stock market right now. The GameStop stock soared unexpectedly and everyone was shocked. Then it was discovered that a group of people on Reddit noticed that hedge fund managers were dumping the stock in mass. In response, amateur traders bought the GameStop stock with a vengeance to push GameStop’s value from $2 billion to $24 billion in a matter of days. It was a decisive victory against Wall Street that was celebrated across all social media platforms.
In response, to protect the hedge fund managers, stock trading apps like TD Ameritrade and Robinhood, stopped new trading and buying of the stocks in question. The move has drawn sharp criticism as it appears the move was made to hinder the efforts of amateur investors to the betterment of the hedge fund managers angered to be losing at their own game.
“It is not uncommon for us to make such decisions, which we consider on an individual basis, in the interest of mitigating risk,” a TD Ameritrade spokesperson told CNET. “We have been adjusting our requirements for several days as we continued to see trends indicating unusual volume in an unprecedented market environment, which appear to be divorced from traditional market fundamentals. We have made what we believe to be prudent and appropriate decisions to place some limits on certain transactions for certain securities.”
Sen. Ted Cruz, in an opportunistic tweet, appeared to side with Rep. AOC.
Rep. AOC and Sen. Cruz have a highly publicized strained relationship. The two politicians are polar opposites in their beliefs and styles of governing. Sen. Cruz’s tweet in support of finding out the reason behind Robinhood’s actions was not a welcomed sight.
People have responded to the tweet confused by Sen. Cruz’s interest is siding against Wall Street. Others are highlighting that the trading apps are directly manipulating the market in favor of the hedge fund managers and trying to force the retail investors to sell to the benefit of the hedge fund managers.
Rep. AOC is not interested in working with Sen. Cruz.
Sen. Cruz along with Sen. Josh Hawley, have faced resounding criticism from the public and colleagues after the insurrection at the U.S. Capitol Jan. 6. The two senators have been singled out for their rhetoric and support that emboldened the mob that violently overtook the Capitol seeking to injure and kill members of Congress.
Rep. AOC expanded on her thoughts and fully laid bare the hypocrisy in Sen. Cruz’s tweet.
Rep. AOC is not someone who messes around with these issues. She is demanding accountability from those in government who have long created problems and take no responsibility. This is just the latest issue in her fight.
