GameStop shares soared 1,600% in January before falling back to earth. The accusation is that Robinhood changed the rules of the road midway through to favor big clients that stood to lose money if GameStop shares kept rising. GameStop stock plunged 60%, to $90 on Feb. 2, wiping out hundreds of thousands of dollars in a few hours. A raft of lawsuits were filed against Robinhood in federal court by platform users who suffered losses when they were frozen out of GameStop trading. There are indications that contrary to the populist fable, it was the Wall Street titans that mostly benefited in the end from the GameStop rollercoaster.

Source: ABC News February 17, 2021 16:07 UTC