Big Tech Cracks Down to Protect the Elite

In a statement to CNBC, IB said:

“As of midday yesterday, (1/27/2021) Interactive Brokers has put AMC, BB, EXPR, GME, and KOSS option trading into liquidation only due to the extraordinary volatility in the markets. In addition, long stock positions will require 100% margin and short stock positions will require 300% margin until further notice. We do not believe this situation will subside until the exchanges and regulators halt or put certain symbols into liquidation only. We will continue to monitor market conditions and may add or remove symbols as may be warranted.”

From Zerohedge:

Additionally, Robinhood has released the following statement:

“We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AMC, $BB, $BBBY, $EXPR, $GME, $KOSS, $NAKD and $NOK. We also raised margin requirements for certain securities.”

Dear free and efficient markets, is there a restricted list for stocks that anyone without a Hampton's mansion can no longer trade?

— zerohedge (@zerohedge) January 28, 2021

Either @RobinhoodApp allows free trading or it’s the end of Robinhood. Period.

— Dave Portnoy (@stoolpresidente) January 28, 2021

Somebody is going to have to explain to me in what world @RobinhoodApp and others literally trying to force a crash by closing the open market is fair? They should all be in jail.

— Dave Portnoy (@stoolpresidente) January 28, 2021

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