Techmeme: Robinhood has placed trade restrictions on more than 50 stocks as of Friday and limited the purchase of some stocks, like GameStop, to a single share (Mitchell Clark/The Verge)

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January 30, 2021, 12:15 AM

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Wall Street Journal:

Profile of the trader known as DeepFuckingValue on r/WallStreetBets, who began investing in GameStop and explaining why in YouTube videos starting in mid-2019 — Trader known as DeepF—ingValue on the WallStreetBets forum helped turn the investing world upside down. “I didn't expect this.”

More: New York Daily News, Input, Kotaku, The Verge, and Ars Technica

Tweets: @chrislhayes, @srussolillo, @gelles, @bgurley, @rkrigney, @eliotwb, @rxfaro, @carnage4life, @sarthakgh, @davidjlynch, @austinhunt, @phatmike9, @lucasmtny, @davecbenoit, @wsj, @jasonzweigwsj, and @emanuelderman

Jesse Westbrook / Bloomberg:

SEC says it “will closely review actions taken by regulated entities that may disadvantage investors” in trading certain securities — The U.S. Securities and Exchange Commission, making its most specific comments about the recent mania in the stock market …

Mitchell Clark / The Verge:

Robinhood has placed trade restrictions on more than 50 stocks as of Friday and limited the purchase of some stocks, like GameStop, to a single share — The company is giving us numbers for what ‘limited buys’ really means — Robinhood only wants users to have a limited number of shares …

More: CNBC, TechCrunch, SlashGear, Daring Fireball, and Business Insider

Tweets: @edbott, @starfire2258, @reedgalen, @erichreimer, and @wheatpond

John Herrman / New York Times:

Reddit's uncommon qualities as a community platform, inspiring nihilism and humor, may explain why r/WallStreetBets' growth feels reminiscent of r/The_Donald — Reddit communities grow powerful in plain sight. Why do they keep taking the world by surprise?

More: Reuters. Tweets: @doctorow, @jwherrman, @awealthofcs, @dcherring, @rashaabdulla, @cwarzel, and @reckless

New York Times:

Robinhood says it raised emergency funding of $1B+ from its existing investors, as it faces an onslaught of demands on its cash amid a stock market frenzy — The no-fee trading app, which is popular with young investors, has been strained by the high volume of trading this week in stocks such as GameStop.

More: Gizmodo, Bloomberg, CNBC, Wall Street Journal, Wired, PCMag, CNN, SlashGear, CryptoSlate, Cryptonews, Fast Company, NPR, Data Driven Investor, TechCrunch, Protocol, Crypto Briefing, Fortune, Forbes, Decrypt, PYMNTS.com, Slate, TIME, Lifehacker, Newser, Engadget, KnowTechie, Daring Fireball, and BGR

Tweets: @zackkanter, @jamessurowiecki, @rhinosoros, @jonesonthenba, @lookner, @danprimack, @jamessurowiecki, @dellcam, @benthompson, @rmac18, @rmac18, @fmanjoo, @carnage4life, and @northmantrader

Ryan Browne / CNBC:

After dogecoin spiked 800%+, Robinhood halted instant deposits for crypto purchases and restricted trading in cryptocurrencies on Friday — - Users reported that the trading app had halted instant deposits for crypto purchases on Friday. — Robinhood confirmed the move …

More: The Verge, CoinDesk, CoinDesk, PYMNTS.com, Crypto Briefing, KnowTechie, New York Post, CryptoGlobe, and Decrypt

Tweets: @tomwarren, @orcainthecourt, @jennfranconews, @arjunkharpal, @alltheway08, and @kofinas

Misyrlena Egkolfopoulou / Bloomberg:

Robinhood is telling some users it may close out some of their positions as part of measures it is taking to reduce account risks — Robinhood Markets told users of its popular stock trading app that it may close out some of their positions as part of measures it's taking to reduce account risks.

More: CNBC. Tweets: @aoc, @chamath, @robinhoodapp, @dellcam, @tedlieu, @wongmjane, @thedextriarchy, @khoustephanie, and @mrjustinbarclay

Under the Hood:

Robinhood explains why it placed restrictions on certain securities over the past week, says its clearinghouse-mandated deposit for equities increased tenfold

More: Under the Hood

Ben Schoon / 9to5Google:

Google deleted ~100K reviews for the Robinhood app on the Play Store, bringing its rating back to 4 stars, after users dropped its rating to 1-star

More: New York Times, The Verge, CNET, TechCrunch, 9to5Mac, CNBC, Cointelegraph, BBC, Input, The Hill, HotHardware.com News, phonearena.com, Bitcoin Magazine, Game Rant, New York Post, KnowTechie, and coinspeaker.com

Tweets: @slasher, @rashidatlaib, @teroterotero, @tanvim, @shwoolley, and @ayeshaasiddiqi

Jacob Kastrenakes / The Verge:

Robinhood says it didn't proactively sell shares of GameStop, AMC, or any other buzzworthy stocks without traders' permission, denying claims made by some users

More: Wall Street Journal, CNBC, New York Times, Gizmodo, USA Today, and Protocol

Darrell Etherington / TechCrunch:

Webull and Public, which restricted transactions of some stocks, cite costs of settling the trades with Apex as the cause and have now removed all restrictions

More: Bloomberg and New York Times

Tweets: @zguz, @motherboard, @webullglobal, @public, @webullglobal, @zguz, and @panzer

Tucker Higgins / CNBC:

Lawmakers, including AOC and Ted Cruz, criticize Robinhood; Dem leaders from the Senate and House say they will hold hearings on the state of the stock market

Tweets: @tedcruz, @newyorkstateag, @llchristyll, @carolmassar, @senmikelee, @olaasm, and @rabbishmuley

Ryan Browne / CNBC:

UK trading app Freetrade disables purchases of US stocks, blaming a decision by its currency exchange provider and their bank to restrict trading volume

Tweets: @ryan_browne_

Paresh Dave / Reuters:

Facebook took down the “Robinhood Stock Traders” Group with 157K users; a notification said the Group violated polices on “adult sexual exploitation”

More: The Information, New York Times, INSIDER, Business Insider, CNBC, Techdirt, Reclaim The Net, The Logic, and Forbes

Tweets: @damiengayle, @timmaughan, @rachblevins, and @paulnuki

Russell Brandom / The Verge:

Robinhood to allow “limited buys” on restricted stocks from Friday, says halting purchases was a risk-management decision and not a response to outside pressure

More: Ars Technica, CNBC, CoinDesk, Reclaim The Net, BitcoinExchangeGuide, The Hill, and Cryptonews

Tweets: @gamespot, @hshaban, @davidgokhshtein, @vladtenev, @gerberkawasaki, and @nichboy

Adam Satariano / New York Times:

Graphika: Huawei officials retweeted messages from fake accounts on Twitter to spread a pro-5G influence campaign in Belgium; Huawei is investigating the claim — A covert online push to sway telecommunications policy in favor of the Chinese company may presage a new twist in social manipulation.

More: Financial Times, CyberScoop, and ZDNet

Tweets: @camillefrancois, @collinslkoh, @mshannahmurphy, @kenyatta, @ftchina, @tariqpanja, @thorstenbenner, @robpegoraro, @roslynlayton, @uuallan, @peterpomeranzev, @mattdrange, @benimmo, @mollymckew, and @mbrookerhk

TechCrunch:

Nerdy, which operates an online tutoring service, plans to go public via a SPAC merger at a valuation of $1.7B and plans to raise up to $750M with the deal — A gig economy-powered consumer edtech platform is heading to the New York Stock Exchange. — Edtech startup Nerdy …

More: Business Wire, St. Louis Business Journal, St. Louis Post-Dispatch, Reuters, Wall Street Journal, PYMNTS.com, Axios, and Bloomberg. Tweets: @gordonswaby

Alex Sherman / CNBC:

Speaking on Clubhouse, Reddit CEO Steve Huffman said his team monitors “Daily Active Shitheads” to make sure Reddit communities don't spiral out of control — - Reddit has taken the spotlight this week after community of investors ganged up to send GameStop and other heavily-shorted stocks soaring.

Tweets: @db, @kifleswing, @sherman4949, @quinnypig, and @megancgraham

Reuters:

Sources: Hyundai executives are divided over a potential tie-up with Apple, with some raising concerns about becoming a contract manufacturer — SEOUL/SAN FRANCISCO (Reuters) - Executives in Hyundai Motor Co Group are divided over a potential tie-up with Apple Inc, with some raising concerns …

More: Irish Examiner, CarBuzz, AppleInsider, Patently Apple, Wccftech, Gizmodo, iPhone in Canada Blog, iDownloadBlog.com, MakeUseOf, MacDailyNews, iPhone Hacks, 9to5Mac, and The Mac Observer

Tweets: @danielwithmusic, @macsmiff, @asymco, @counternotions, and @brianroemmele

Geoffrey Fowler / Washington Post:

A spot check finds some apps in Apple's App Store with inaccurate privacy “nutrition labels” that downplay how much data they send to Facebook, Google, others — Apple's plan to make iPhone apps be transparent about the data they take falls short of being helpful — or even accurate

Catalin Cimpanu / ZDNet:

Clearsky researchers say Hezbollah's cyber unit Lebanese Cedar hacked 250+ unpatched Atlassian and Oracle servers at telecoms and ISPs in US, UK, Israel, more — Security firm Clearsky said they identified at least 250 servers hacked by Lebanese Cedar, a hacking group linked to the Hezbollah militant group.

More: Gizmodo and SC Media

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