Items tagged with robinhood
A little over a week after Robinhood first began limiting trading for shares of GameStop (NYSE: GME), the company has now reversed its decision. Robinhood's initial move drew considerable backlash from the very same everyday investors that it claimed to support, and has even drawn negative attention from lawmakers and the SEC. Robinhood attempted to soften its image with the public by releasing its first-ever Super Bowl commercial early, but the reaction was hypercritical for its tone-deafness (it didn't even address the GME controversy). Now, Robinhood has finally lifted its GME trade restrictions, but the move only comes after shares of the game retailer have crashed...
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If you want to see an example of a popular company throwing away years of goodwill with its customers over a short span of time, look no further than Robinhood. The company says that it's on a mission to democratize finance for its users, but its recent actions flew in the face of those claims. Robinhood has just aired its upcoming Super Bowl commercial, entitled "We are all investors." In it, the company champions the everyman; the very people that it has always catered to and embraced during its 7 years of existence. After all, the company's mission statement reads, "At Robinhood, we believe the financial system should be built to work for everyone. That’s why we create products...
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The popular online stock trading app Robinhood is back down to a dismal one-star user rating in Google Play, as the platform continues to draw heavy criticism after it limited the ability to trade certain stocks following a surge in activity driven by the WallStreetsBets subreddit. And this time around, Google will not be wiping the slate clean, as it did after the previous flurry of negative reviews. Many of the one-star user reviews ostensibly complain about various aspects of the app itself, including technical issues, poor customer services, network connection problems, app crashes, charts not being very useful, and the list goes on. And no doubt, some of the complaints can be taken at face...
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Given the dramatic rise in share prices for so-called "meme stocks" like GameStop (NYSE: GME) and AMC Theaters (NYSE: AMC), there has been a flurry of activity from an influx of everyday traders. Spearheaded by the so-called "degenerates" from the WallStreetBets subreddit, GME has soared over 1,000 percent in value as hedge funds shorting the stock have in turn lost billions. One company that has been caught up in this rollercoaster ride has been Robinhood, which came under fire from all sides (WallStreetBets, lawmakers, everyday traders, etc.) when it restricted the purchase of a number of meme stocks like GameStop, AMC, BlackBerry, Bed Bath And Beyond, and Nokia. "Amid significant...
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In the last week, the GameStop fiasco has expanded to several other stocks and now cryptocurrencies. The whole event is becoming something of a meme, which has angered some people higher up the chain. Some companies, such as the now-infamous Robinhood, began to lock down what stocks and cryptocurrencies investors could buy, much to the ire of the internet and WallStreetBets. As Robinhood has fallen from grace, consumers are now looking for new platforms to buy stocks and cryptocurrency, and we have compiled some options to help you along. Buy Dogecoin And Other Cryptocurrencies Binance And Binance.US We list Binance and Binance.US first because it seems to be one of the most fully-featured cryptocurrency-buying...
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Last week was a crazy one for seemingly down and out companies that have been severely impacted by the COVID-19 pandemic. We're of course talking about GameStop, and to a lesser extent companies like AMC Theaters and BlackBerry. It's a long story, and we highly suggest that you catch-up on our previous coverage, if you're new to all Wall Street the drama. However, the Cliff's Notes version is that Wall Street hedge funds have been shorting GME shares for the long haul, hoping for the eventual demise of the company so that they can rake in billions in profit. Reddit community WallStreetBets, however, has decided to "stick it to the man" by rallying around shares of GME, which...
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As the WallStreetBets fiasco heated up yesterday, Robinhood and other companies were restricting free trade of GameStop and AMC stocks under the guise of “helping users.” Since then, people have been outraged, enough so to initiate class-action lawsuits against the stock-trading app. Individual users are also now taking to leaving poor reviews on Robinhood’s app store pages due to the issues, but it appears that Google is stopping those. 9to5Google reported that since restricting the stocks targeted by WallStreetBets, the Robinhood Android app was inundated with over 100,000 negative reviews, which brought the review average to 1 star. Previously, the app sat around four stars,...
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Earlier today, we reported that Robinhood and TD Ameritrade were restricting trading for a rash of stocks including GameStop and AMC. At the time, Robinhood said that it was making the decision to help its users stay informed in its efforts to democratize access to financial institutions. "We continuously monitor the markets and make changes where necessary. In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG," said Robinhood this morning. "We also raised margin requirements for certain securities." Now, the company is facing a couple...
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Is the party coming to the end for the "little guys" that banded together to take on some of the biggest hedge funds on Wall Street? Earlier this week, we reported on the meteoric rise of GameStop shares (NYSE:GME), which has been fueled by "degenerates" -- a title that the group has coined for themselves -- over at the WallStreetBets subreddit. They then moved on to push AMC Theaters (NYSE:AMC) and Nokia (NYSE:NOK) in a financial windstorm that has rocked Wall Street. However, there has been a lot of commotion raised about these degenerates and other everyday Americans that have joined in on this fascinating gold rush, as GME shot from $70 to $347 in a matter of days. This is a stock that...
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