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Elon Musk backs AOC's call for House hearings on Robinhood barring GameStop trades

US Representative Alexandria Ocasio-Cortez said that House inquiries into freezes should not be limited to Robinhood and that the committee should "examine any retail services freezing stock purchases", especially those allowing sales, but freezing purchases.

January 29, 2021 / 10:42 AM IST
File image: Elon Musk

File image: Elon Musk

Billionaire Elon Musk has joined the growing number of public figures supporting United States Representative Alexandria Ocasio-Cortez's rallying cry against the stock trading application Robinhood.

On January 28, Musk tweeted his approval after Ocasio-Cortez, called by many as AOC, sought a US House of Representatives’ Financial Services Committee hearing on Robinhood’s decision to halt trading of the GameStop stock.

“This is unacceptable. We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services Cmte, I’d support a hearing if necessary (sic),” Ocasio-Cortez said in a tweet.

Read: 4 things to know about the GameStop insanity