The more news that comes out the more it looks like Robinhood is going down.  They were slated to go public later this year, but I just don't see it happening.

For those angry about them putting limits on stock purchases, it's not illegal and it is in their Terms of Use when somebody opens an account with them.  The underlying fact of the matter is the company pretty much owns "paper assets" and can't handle the volume or volatility of the trades going through them.

I find it kind of ironic that the goal of some on Reddit is to "sock it" to the hedge funds that shorted Gamestop, and they did cause some damage.  However, the larger hedge funds have covered and come through just fine.  The entity that they "socked it to" is the very vehicle that they used.  Robinhood just can't handle it and I suspect that they will not be around very much longer.

Getting to the actual topic of this thread, I find it kind of disturbing that the President and his staff have been dodging this issue for the last couple of days.  Rather than deal with the economy, the current administration is focusing their efforts on "green energy" and "equality".  StroudCrowd1 might be partially right about the "Biden selloff".  I can see many investors going to cash until this mess is settled.

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