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Viacom tca presentation
Viacom tca presentation
Photo Credit: Jason Kempin/Getty Images for Viacom

"Where's Ja Rule?" Apparently on Robinhood, With the Rest of Us

Ja Rule took to social media to relay some investing advice.

Last Tuesday (January 26), the finance world was violently shaken up when a Reddit campaign ultimately led to a record-setting increase in the value of Gamestop shares. The result? At least two hedge funds are in jeopardy of losing billions. Additionally, trading firms — from TD Ameritrade, Charles Schwab, to the upstart mobile app Robinhood — temporarily halted the purchase of certain stocks, only giving traders the option to sell their now-valuable shares. After news of the trading halt, Ja Rule took to Twitter to voice his frustration.

"Yo this is a f----ing crime," he wrote. "What @RobinhoodApp is doing DO NOT SELL! Hold the line...the hedge fund guy shorted these stocks now we can't buy them, people start selling out of fear. We lose money, they make money on the short. This is a f---ing crime!"

On the following Monday (February 1), Ja appeared on CNBC's Squawk Alley to discuss Robinhood's trading restrictions. Since his tweet-storm last Thursday, Robinhood and other brokerage firms have continued to restrict the volume of transactions for GameStop, AMC, and more.