Posted in: Tattle, Technology

Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy

Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges

Facebook has taken down the popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder described as backlash for conversations buoying shares of GameStop Corp and other companies this week.

GameStop, AMC Entertainment Holdings Inc and BlackBerry have been at the centre of a market battle as individual investors coordinating on social media including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet that those struggling companies would tank.

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