For those unaware, Robinhood and Citadel Securities are facing a lawsuit from investors over their alleged actions earlier this year. When the meme stock market was in full swing, a pause was put on trading certain high volatility stocks. Among those were GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC), two of retail traders’ favorites.
With news of the lawsuit spreading and more details being revealed, retail traders are raking the two over the coals online. That includes sharing excerpts from the lawsuit, as well as memes criticizing Robinhood and Citadel Securities.
Let’s take a look at what some retail traders on Twitter are saying under the #CitadelScandal hashtag.
#CitadelScandal Tweets Hitting Hood Stock on Thursday
This is huge.
Previously, they denied it.
— unusual_whales (@unusual_whales) September 30, 2021
— gorilla geek (@crypto_cache) September 30, 2021
— Kevdoggy32 (@Kevdoggy321) September 30, 2021
— MacNCheese (@Stock_Holder_) September 30, 2021
— Paul Allen (@PaulAll80482753) September 30, 2021
So how is that news affecting HOOD stock today? The company is seeing trading volume much lower than normal. As of this writing, only about 2.5 million shares of the stock have changed hands. That’s nowhere close to the company’s daily average trading volume of about 21.9 million shares.
It’s also worth noting that HOOD stock is down 3.2% as of Thursday afternoon. However, the stock is still up 19.9% since going public at the end of July.
Investors wanting more of the hottest stock market news today are in luck!
InvestorPlace offers daily coverage of the stock market and today is no different! A few examples of stories worth checking out include what’s hurting Bed Bath & Beyond (NASDAQ:BBBY) stock today, why shares of Alzamend Neuro (NASDAQ:ALZN) are on the rise, as well as the news pushing Lordstown Motors (NASDAQ:RIDE) stock higher. You can learn all about these matters by checking out the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.