Facebook bans popular stock trading group amidst the game Stop Chaos

Facebook has reportedly shut down a popular stock trading group over alleged policy violations, says the page’s founder, who argues that real The reason for the sudden expulsion is the manna that its members made with all the GameStonks drama this week.

Robinhood Stock Traders had more than 157,000 members before Facebook took them offline on Wednesday, founder Allen Tran said. Reuters (Note: the group is not currently affiliated with the popular Robinhood stock trading app. a class action pissed off the shareholders). In a notification regarding the ban reviewed by Reuters, Facebook said the group had violated its policies against “the sexual exploitation of adults” without going into further detail.

Claims of Tran he never saw anyone posting adult content to the group, arguing that Facebook has offered to dissolve retailers who are profiting from the recent Reddit-fueled shopping spree, according to the outlet. In a Facebook post

Regarding the suspension, he said that “the big institutions are trying to silence our community” and Robinhood Stock Traders has been attacked “because we are more powerful than them”.

In case you missed it, Reddit’s popular stock trading community, WallStreetBets, launched a coordinated effort this week to increase the value of GameStop stocks and bankrupt hedge funds betting against the game retailer ( which certainly falters). Gamestop’s share price rose from less than $ 20 per share earlier this month to an all-time high of $ 492 per share on Thursday. The price fluctuated wildly as retail investors poured in, eventually turning to other very short-lived companies like AMC and BlackBerry, and panic investment apps

he subsequently stifled their efforts. This whole ordeal resulted in tons of memes and massive losses for hedge funds like Melvin Capital Management who bet on these companies in difficulty to tank.

Some members of Tran’s group made tens of thousands of dollars on these exchanges, he said, claiming that it is recent success is likely why institutional investors decided to split them.

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“We were the first to be cut down on the harvest tree because we are on Facebook, not on a free platform like Reddit,” he told Reuters. “With all of these big institutions frustrated with the success of the retail business, they’re trying to target as many groups as they can.”

Since then, Tran has created a new page to replace the original one which had nearly 10,000 members on Thursday night. But he fears that Facebook could shut down this group as well. The old group has been suspended once before Jan Sep after being labeled a “dangerous organization” according to correspondence reviewed by Reuters. Facebook then reinstated its privileges after Tran appealed the decision..