Today is Friday, January 29th and you're listening to the morning announcements.

I'm Sammy Sage.

The Game Stop drama continued yesterday, ultimately taking a turn that angered many retail investors,

aka the people who individually trade and invest via apps like Robin Hood and other brokerage accounts.

On Wednesday, the value of Game Stop increased by $10 billion,

before Thursday morning when Robin Hood shut off their user's ability to buy GameStop shares,

along with seven other companies that users were rapidly buying based

off of information on the Wall Street Betts Forum.

GameStop's share price fell by over 40% on Thursday as a result of Robin Hood's policy.

The reason this was kind of a fucked up move on the part of Robin Hood is that while they cut

off access to trading for their customers, who are mostly normal people without ties to financial institutions,

larger financial institutions such as hedge funds were still able to trade Game Stop stock.

This left Robin Hood users, more than half of whom, owned some amount of GameStop stock at this point,

with only the option to sell the stock as the value of their investments were plummeting.

You might be wondering why this is unfair when the value is inflated anyway.

While it's true that the value was inflated, it left individual people with the losses,

and unlike a financial institution, they have no bigger firms who can just come along to bail them out,

which is what happened when Melbourne Capital Management lost its entire investment.

Speaking of said bailout, there is a sketchy connection worth pointing out.

One of the companies that owns a portion of Robin Hood is a firm called Citadel, and you may or

may not be surprised to hear that Citadel was one of the firms that helped

to bail out Melbourne Capital Management when their short position and GameStop failed.

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