Arab Press

بالشعب و للشعب
Wednesday, Nov 12, 2025

Robinhood users are revolting against the trading app after it stopped trades of GameStop

Robinhood users are revolting against the trading app after it stopped trades of GameStop

Barstool Sports, along with the blog's founder Dave Portnoy, declared "war" on Robinhood. "You are scam artists," Portnoy said in a tweet.

Robinhood users are coming for the trading app's head.

Robinhood stopped allowing users to buy GameStop on Thursday morning, only allowing users to sell, following a weeks of huge gains — from being below $5 in late 2020 to over $450 per share on Thursday morning.

Users of the Reddit forum r/WallStreetBets encouraged each other to bid up GameStop's stock price, thus causing a short squeeze on the hedge funds betting against GameStop's stock value. As a result, those short-sellers lost more than $1 billion in a single day while the company's stock value shot up by hundreds of dollars per share.

On Thursday morning, citing "significant market volatility," Robinhood cut off users from trading GameStop stock (and a handful of other companies).

That decision caused a massive outcry on social media.

"Robinhood has disabled trading in $AMC $GME $NOK etc, proving that the 'little guy' was never allowed to win in a 'free market'," popular newsletter writer Joe Pompliano said in a tweet. "What a joke."




The Robinhood app listing received an influx of one star reviews on the Google Play store, causing the app to average the lowest rating.


Robinhood received an influx of one star reviews on the Google Play store.


And members of r/WallStreetBets threatened to file a class action lawsuit against Robinhood for market manipulation.

"Allowing people to only sell is the definition of market manipulation," one post on r/WallStreetBets read. "A class action must be started, Robinhood has made plenty of money off selling info about our trades to the hedge funds to be able to pay out a little for causing people to lose money now."

Robinhood, founded in 2013 by Stanford graduates Baiju Bhatt and Vladimir Tenev, allows users to trade stocks without commission. "We're proud to have created a platform that has helped everyday people, from all backgrounds, shape their financial futures and invest for the long term," the firm said in a blog post.

Instead of taking commissions on stock trades, the company says it earns revenue through a variety of other means, from financial services to a membership program ("Robinhood Gold").

Users aren't the only ones criticizing Robinhood publicly.

Billionaire Mark Cuban questioned why Robinhood restricted trading, tweeting: "So are @robinhoodapp and @IBKR ending trading in #wallstreetbets stocks because they are losing their a** on these trades? Or maybe they don't have the cash to enable the trades at this scale? Anyone have any insight on their economics?"


Barstool Sports, along with the blog's founder Dave Portnoy, declared "war" on Robinhood.

"You are scam artists," Portnoy tweeted in response to Robinhood's announcement on restricting trading. "You are crooks. You deserve to be behind bars and you know it."


Rep. Alexandria Ocasio-Cortez called Robinhood's action "unacceptable," and called for "a hearing if necessary" to determine why the company chose to "block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit."

Sen. Ted Cruz seconded Ocasio-Cortez's tweet. "Fully agree," he said.

Detroit-based CEO and philanthropist Bill Pulte weighed in as well.

"This is what you call rich people trying to confuse you with fancy words," he tweeted in response to Robinhood's statement on why it's restricting stock trades of GameStop.

Robinhood representatives didn't immediately respond to a request for comment.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Cristiano Ronaldo Embraces Saudi Arabia’s 2034 World Cup Vision with Key Role
Saudi Arabia’s Execution Campaign Escalates as Crown Prince Readies U.S. Visit
Trump Unveils Middle East Reset: Syria Re-engaged, Saudi Ties Amplified
Saudi Arabia to Build Future Cities Designed with Tourists in Mind, Says Tourism Minister
Saudi Arabia Advances Regulated Stablecoin Plans with Global Crypto Exchange Support
Saudi Arabia Maintains Palestinian State Condition Ahead of Possible Israel Ties
Chinese Steel Exports Surge 41% to Saudi Arabia as Mills Pivot Amid Global Trade Curbs
Saudi Arabia’s Biban Forum 2025 Secures Over US$10 Billion in Deals Amid Global SME Drive
Saudi Arabia Sets Pre-Conditions for Israel Normalisation Ahead of Trump Visit
MrBeast’s ‘Beast Land’ Arrives in Riyadh as Part of Riyadh Season 2025
Cristiano Ronaldo Asserts Saudi Pro League Outperforms Ligue 1 Amid Scoring Feats
AI Researchers Claim Human-Level General Intelligence Is Already Here
Saudi Arabia Pauses Major Stretch of ‘The Line’ Megacity Amid Budget Re-Prioritisation
Saudi Arabia Launches Instant e-Visa Platform for Over 60 Countries
Dick Cheney, Former U.S. Vice President, Dies at 84
Saudi Crown Prince to Visit Trump at White House on November Eighteenth
Trump Predicts Saudi Arabia Will Normalise with Israel Ahead of 18 November Riyadh Visit
Entrepreneurial Momentum in Saudi Arabia Shines at Riyadh Forward 2025 Summit
Saudi Arabia to Host First-Ever International WrestleMania in 2027
Saudi Arabia to Host New ATP Masters Tournament from 2028
Trump Doubts Saudi Demand for Palestinian State Before Israel Normalisation
Viral ‘Sky Stadium’ for Saudi Arabia’s 2034 World Cup Debunked as AI-Generated
Deal Between Saudi Arabia and Israel ‘Virtually Impossible’ This Year, Kingdom Insider Says
Saudi Crown Prince to Visit Washington While Israel Recognition Remains Off-Table
Saudi Arabia Leverages Ultra-Low Power Costs to Drive AI Infrastructure Ambitions
Saudi Arabia Poised to Channel Billions into Syria’s Reconstruction as U.S. Sanctions Linger
Smotrich’s ‘Camels’ Remark Tests Saudi–Israel Normalisation Efforts
Saudi Arabia and Qatar Gain Structural Edge in Asian World Cup Qualification
Israeli Energy Minister Delays $35 Billion Gas Export Agreement with Egypt
Fincantieri and Saudi Arabia Agree to Build Advanced Maritime Ecosystem in Kingdom
Saudi Arabia’s HUMAIN Accelerates AI Ambitions Through Major Partnerships and Infrastructure Push
IOC and Saudi Arabia End Ambitious 12-Year Esports Games Partnership
CSL Seqirus Signs Saudi Arabia Pact to Provide Cell-Based Flu Vaccines and Build Local Production
Qualcomm and Saudi Arabia’s HUMAIN Team Up to Deploy 200 MW AI Infrastructure
Saudi Arabia’s Economy Expands Five Percent in Third Quarter Amid Oil Output Surge
China’s Vice President Han Zheng Meets Saudi Crown Prince as Trade Concerns Loom
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
×