This story is available exclusively to Business Insider subscribers.Robinhood's daily users spiked more than 800% last week during the GameStop trading frenzy, according to web traffic from SimilarWeb.
Users fell off by roughly 15% on Friday compared to Thursday after the brokerage shut down several stocks, including GameStop. Robinhood's reputation among its day-trading client base might have taken a hit last week when it shut off certain stocks, but the frenzy around GameStop and other tickers brought more traffic to the startup than ever before.
Robinhood's unique users jumped more than 800% as people who had never bought a stock before rushed to online brokerages to participate in the short squeeze on Gabe Plotkin's Melvin Capital. Meanwhile, traffic went from a 7-day average of 127 million visits on Jan. 22 to a 7-day average of more than 320 million on Jan. 29, the end of last week. Year-over-year, Robinhood traffic increased 1,200%.
by the frenzied trading driven by popular subreddit r/WallStreetBets, which added millions of members last month.
Manipulation at its finest. 👀
For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her lisaMakT Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️