At a House Financial Services Committee hearing Thursday, Robinhood's CEO, Vlad Tenev, said, "The passing of Mr. Kearns was deeply troubling to me and to the entire company, and we have vowed to take a series of steps, very aggressive steps to make our options product safer for our customers.""Is retail individual retail participation in the marketplace gambling?" asked U.S. Rep. Bill Huizenga, R-Mich., at the hearing Thursday.
Tenev disputed the gamification of Robinhood saying, "We know that investing is serious, and we're investing in all of the educational tools and customer support to help people on their investing journey." "Investors are able to participate in the market just as insitations are able to participate," said Reddit trader Keith Gill, who was pushing's potential as the stock soared from $18 around New Year's Day to more $480 later in January.
This won’t end well. It never does, anything easy tends to get packed and the last one left is left to hold the bag of shit. Gambling on margin doesn’t work in casinos or in real life.
Really.
'Reddit outplayed a hedge-fund'...addiction! ADDICTION!!! Taking money from rich fukkkks & hedgies is so bad the investors must be crazed addicts addicted 😏! Wow!
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This is comical coming from CNBC.
“Could” ... ?
🤦🏻♂️🤦🏻♂️🤦🏻♂️