Overseas, January 31 (Xinhua) New York’s Young Republicans plan to rush into zuccotti Park in lower Manhattan on Sunday to protest against the actions of hedge funds and other financial institutions to undermine the stock purchase of retail investors.
In an article on social media, the group called on people to “wear signs and warm clothes and join us at noon on Sunday, January 31.”. Gavin wax, the head of the investment app, told the New York Post that the events of the past few days were “really despicable”, apparently referring to the fact that Robinhood, an investment app, prevented its users from buying shares in specific companies. “The rest of the class is no longer able to make money with the financial giants,” Mr. waxes said “I do think they need to be prosecuted,” Mr Vaks said. Many of them need to go to jail. SMS and email must be checked. We need to act in concert to get a response. “
The event arose from a game over the share price of Gamestop. According to reports, the game station is currently the world’s largest video game and entertainment software retail giant. In protest against Wall Street’s short sellers’ desire to profit from the collapse of the game station, traders injected cash into the company’s shares, which surged more than 1700%. As stocks soared and hedge funds faced billions of dollars in losses, a variety of trading apps, including Robin Hood, took action on Wednesday (27th) local time to limit the trading of recently rising stocks such as game Posthouse. Securities companies issued a statement saying that these stocks “can only be sold, re purchased, and can not continue to buy.”.
The incident shocked the US political circles. The White House, the US Congress, the Treasury Department and the US Securities and Exchange Commission all issued statements to express their concern. The former head of enforcement at the US financial regulatory agency said the Commission may be investigating trading activity and information on reddit. On the 28th, New York Democratic congressman Cortez and Texas Republican Senator Cruz criticized securities dealers for their trading restrictions. (overseas website Hou Xingchuan)