Facebook shuts popular stock trading group amid GameStop frenzy

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Reuters
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1611914979868988600
Fri, 2021-01-29 03:07

Facebook took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder on Thursday described as backlash for conversations buoying shares of GameStop Corp. and other companies this week.
GameStop, AMC Entertainment Holdings Inc. and BlackBerry have been at the center of a market battle as individual investors coordinating on social media including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet big on those struggling companies to tank.

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