AOC Going Live On Twitch To Address GameStop & Robinhood Controversy
Congresswomen Alexandria Ocasio-Cortez has announced she will be going live on Twitch this evening to talk about the latest developments in the astonishing GameStop stocks story. It looked like the gaming store’s ship was sinking fast at the beginning of the year, but over the past week the retailer saw its share prices surge after a group of Redditors set out to take on the hedge funds hoping to make a profit on GameStop’s fall. The soaring prices, however, were halted today as Robinhood Markets, a platform which allows investors to trade stock, and similar sites restricted users from buying or selling certain stocks, including GameStop’s.
Last month, the writing seemed to be on the wall for GameStop. By the end of 2020, following a mishandled pandemic response and the rise of digital game sales, the brick-and-mortar game shop had been forced to close nearly eight hundred locations in the course of two years. However, just weeks later the retailer’s value jumped by more than one hundred percent. It soon became clear that a single group was spearheading this unbelievable jump: a subreddit called r/WallStreetBets, which seemingly hoped to stop investors from shorting the company’s stock. As the week pressed on, more people jumped on the stock bandwagon, rising the price to just above of four hundred and eighty dollars at its highest point at the time of writing and attracting the eye of officials in Washington.
At 8:30pm today Representative Alexandria Ocasio-Cortez, widely known as AOC, will discuss the issues surrounding Robinhood’s decision to halt GameStop transactions live on Twitch according to a post on the congresswoman’s official Twitter. The message follows a series of comments from AOC regarding the situation, one of which describes this turn of events as “unacceptable.” She also warned that a hearing to look into the firm’s sudden restrictions might be in order. The post, while short, also mentions that the congresswoman may be joined by guests, though this remains uncertain.
No stranger to the virtual realm, AOC has participated in several video game related content over the past year. Her first Twitch stream, which took place in October of last year, saw the New York Representative jump into the wildly popular online multiplayer Among Us. The stream was watched by roughly 440,000 people at its height and became the sixth most-watched stream ever on Twitch at that time.
The news about GameStop’s stock price has been developing at breakneck speed this week and it can be hard to keep up. Almost overnight, a low-value stock from a failing company made investors, many led by a Reddit sub, a wild profit. After that, the pace just seemed to pick up with tech celebrities jumping into the fray and the government taking an unexpected interest. It is not clear what exactly will be discussed in AOC’s Twitch stream tonight, but it is certain that this story isn’t done yet.
Source: Alexandria Ocasio-Cortez/Twitter
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