News Formal

Top stocks on Robinhood brokerage get crushed as market violently reverses

  • 📰 CNBC
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Some Robinhood traders who had booked profits as the market rebounded are getting squeezed as the Dow tumbles again.

. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines. Traders dumped airlines, cruise operators and retailers after piling into those names over the past month amid expectations of a swift economic recovery.

"We see a lot of buying activity of specifically industries that were impacted by the pandemic," Robinhood co-founder and co-CEO Vladimir Tenev said at the Piper Sandler Global Exchange & FinTech Conference last week. Investors traded "a lot in airlines, a decent amount of buying in videoconferencing, streaming services, some biopharmacuetical as well.

"Why take profits when every airline goes up 20% every day. Losers take profits. Winners push the chips to the middle. ... I should be up a billion dollars," Portnoy said. "I'm just printing money."

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Huge run on the market needs a breather!

robinhooders dont move markets . Why is this in the news .

Jokes on you. I waited for stocks to crash

😬

Robin Hood Bro: stocks are easy Markets:

All the Robinhoodlums are scurrying out of Sherwood Forest in a panic.

Its gon be back up tomorrow chill

Steal from the poor and give to the rich, eh Robbinghood!

BREAKING :- INDIA Registers HIGHEST NUMBER OF coronavirus cases in 24 hours.... COVID19

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tiny Singapore replaces U.S. as India's top market for engineering exportsSingapore replaced the United States as India's biggest overseas market for engineering parts in April, with exports rising 95% to $553 million from a year earlier, a trade body said on Wednesday, as statistics are upended by coronavirus lockdowns. Trinhnomics is this possible? Singapore also overtook the usa as the most competitive and open economy in the world. The global economy is decoupling from the US economic extortion racket.
Source: Reuters - 🏆 2. / 97 Read more »