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The First Amendment will likely protect the anonymity of Redditors who discussed GameStop stock

GameStop logo is seen at one of their stores in Athens, Ohio. Stephen Zenner/SOPA Images/LightRocket via Getty Images

The First Amendment will likely protect the anonymity of Redditors who discussed GameStop stock

GameStop logo is seen at one of their stores in Athens, Ohio. Stephen Zenner/SOPA Images/LightRocket via Getty Images

The First Amendment will likely protect the anonymity of Redditors who discussed GameStop stock

GameStop logo is seen at one of their stores in Athens, Ohio. Stephen Zenner/SOPA Images/LightRocket via Getty Images

The First Amendment will likely protect the anonymity of Redditors who discussed GameStop stock

GameStop logo is seen at one of their stores in Athens, Ohio. Stephen Zenner/SOPA Images/LightRocket via Getty Images

Experts wonder whether the commission-free investment app Robinhood engaged in improper behavior when it restricted buyers’ ability to purchase GameStop shares, resulting in their subsequent decline.

GameStop, the video game retail chain, saw its stock rise as much as 1,800% in January 2021 after fans, who believe the stock was unfairly devalued by large investors, championed the stock’s purchase.

Because WallStreetBets, an online group on the social news platform Reddit, generated intense interest in the stock, some financial experts have speculated as to whether the group engaged in market manipulation – that is, engaging in deceptive speech or stock purchasing tactics to artificially inflate the price of a stock.

Experts also wonder whether the commission-free investment app Robinhood engaged in improper behavior when it restricted buyers’ ability to purchase GameStop shares, resulting in their subsequent decline.

As a law professor who teaches classes on the First Amendment, I find the law’s lack of clarity on this issue fascinating.

Free speech protections offered by the First Amendment will likely protect many, if not all, of the anonymous posters on WallStreetBets from claims of market manipulation.

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