[Reuters]–US Facebook has deleted the popular group “Robin Hood Stock Traders” as a place for US investors to exchange information. The group manager said that it was a countermeasure against information exchange on SNS (exchange site) that led to the sharp rise in stock prices such as GameStop.
In the United States, recently, individual investors connected on SNS such as “Reddit” bought specific stocks all at once using the stock trading application Robin Hood etc., and short-selling in anticipation of stock depreciation due to poor performance The movement to tighten up was getting stronger. This led to a surge in stock prices for US GameStop, US movie theater chain giant AMC Entertainment Holding, and Canadian software company Blackberry.
23-year-old Allen Trang, who launched Robin Hood Stock Traders, said Facebook had notified him on the 27th that he had suspended the group, which has 157,000 members. The notice confirmed by Reuters explained that it violated the “sexual exploitation” policy, but did not provide details.
“It was the first to be eliminated because it was a Facebook group rather than a free platform like Reddit,” Tran said. In Reddit’s chat room “Wall StreetBets”, information that led to the recent overheating of individual investors’ transactions was exchanged ahead of others. Trang revealed that some members of his group have made tens of thousands of dollars in recent stock trading.
Facebook approved the removal, but did not comment further.
Mr. Trang points out that institutional investors are trying to separate individual investors. “Major institutions are dissatisfied with the success of individual investors and will target any group they can target.”
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