Regulators already had their eyes on Robinhood, an app used to buy and sell shares that hasThe Silicon Valley company, which makes money in part from fees charged to Wall Street funds that execute customer orders, is accused of courting inexperienced investors and encouraging them to trade frequently and deploy risky strategies - even if it goes against customer interests.
It's also facing outrage from customers - and lawmakers - angry after Robinhood was among the trading platforms to limit purchases of Gamestop and others' stocks, citing market volatility and risk.GameStop, with more than 5,000 stores in the US and elsewhere, was losing money even before the pandemic
Amazing. Brokers should wear a mask and striped jumper. Hard to believe there are so many people saying Robin Hood is morally wrong. It’s literally what brokers do EVERY DAY.
Whatever the cause people think they’re joining here, the reality is they’re currently paying hundreds of dollars a share for something that has a fundamental value of about $15 a share.There will be many people that will lose a fortune here & it won’t just be some hedge funds.
And here begins the media onslaught to convince GME holders that their stock will fall (before the shorts buyback). ....But we are all HOLDING. So you will have some great articles to write next week ;)