AOC, Ted Cruz Slam Robinhood for Freezing Some Trades Amid GameStop Volatility

With Reddit's interest in sending some stocks soaring showing no sign of slowing down, the trading app Robinhood started restricting some transactions Thursday morning. Reddit wasn't happy -- and neither are some lawmakers. From a report:The incident apparently struck an unusual bipartisan chord, with Texas Republican Ted Cruz throwing his weight behind progressive Democrats who called out the company. Rep. Rashida Tlaib called Robinhood's decision "beyond absurd" and suggested that the House Financial Services Committee hold a hearing on what she deemed "market manipulation" from the personal finance startup. "They're blocking the ability to trade to protect Wall St. hedge funds, stealing millions of dollars from their users to protect people who've used the stock market as a casino for decades," Tlaib said. Her colleague Rep. Alexandria Ocasio-Cortez -- a member of that committee -- chimed in with support for a hearing on Robinhood, calling the situation an "unacceptable" step to prevent retail investors from trading. Seeing Cruz and Ocasio-Cortez line up on anything right now is unusual, to put it mildly. Silicon Valley Rep. Ro Khanna also flagged Robinhood's decision to stop some trades, slamming the startup for freezing out small investors while powerful hedge funds scramble to get control of the situation.

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