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Robinhood is Innocent: There is No GameStop Conspiracy

On January 28, amidst the GameStop mania, Robinhood Markets, Inc., the online brokerage favored by many individual, nonprofessional investors—or retail investors—restricted trading of GameStop and other similarly volatile “meme stocks'' such as AMC Entertainment Holdings. GameStop’s stock closed down a whopping 44 percent that day. Some retail investors interpreted the restrictions as an organized scheme to bail out the group of hedge funds that were suffering losses due to GameStop’s rapid rise. Naturally, leftist firebrand Alexandria Ocasio-Cortez (AOC) had something to say about it. She branded Robinhood’s actions “unacceptable” and vowed to “support a hearing” concerning the trading restrictions “as a member of the Financial Services [Committee].” Then things got weird! Right-wing firebrand Ted Cruz retweeted Ocasio-Cortez’s remarks, adding “totally agree.” Elizabeth Warren and Donald Trump piled on for good measure, likewise asserting that hedge funds and Robinhood conspired against retail investors. Wait, what? Cruz and Ocasio-Cortez agree on almost nothing—so they must be onto something, right? Well, not exactly. So why did Robinhood restrict meme stock trading? The answer involves the reality of brokering on the stock market, an old mechanism called T+2, and has nothing to do with hedge funds conspiring against small investors.

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Josh Allen Is the Perfect Man for 2020

2020 has been a weird year; macaque monkeys annexed a city in Thailand, the Cleveland Browns are 4-1, and a National Basketball Association (NBA) team led by three white guys made the NBA Finals. Heck, the pigeons in New York have stopped smoking cigarettes.2020 has been a weird year; macaque monkeys annexed a city in Thailand, the Cleveland Browns are 4-1, and a National Basketball Association (NBA) team led by three white guys made the NBA Finals. Heck, the pigeons in New York have stopped smoking cigarettes. So perhaps it shouldn’t be surprising that, after posting 311 passing yards for four touchdowns against the Los Angeles Rams, Buffalo Bills quarterback (QB) Josh Allen is this good right now. After all, there are few, if any, athletes better acquainted with chaos than Allen.

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