They claimed that the very apps that had democratised trading — Robinhood in particular — were now doing the bidding of Wall Street. GameStop shares recovered some losses to end the day down 44%. “People on Wall Street only care about the rules when they’re the ones getting hurt,” he wrote on Twitter. Several hedge funds on the losing side of these trades have also struggled in recent days. As prices soared, those hedge funds were forced to absorb losses on their soured wagers.

Source: bd News24 January 29, 2021 07:07 UTC