Robinhood CEO: We Weren’t ‘Forced’ to Limit Stock Buying Amid Reddit-Driven S...
Robinhood's CEO said the platform's decision to halt buy orders on GME, NOK and AMC was based on a "technical and operational" one, not outside pressure.
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Both the Senate and the House are looking into Wall Street's market practices, especially short selling. Legislators are responding fast to the madness surrounding Gamestop and AMC shares and the hedge funds selling them short.On Jan. 28, Chairwoman of the House Financial Services Committee Maxine Waters announced a coming hearing on short-selling. Sherrod Brown, the incoming chairman of the Senate Banking Committee, similarly called for a re-examination of stock market rules. Short selling has been the subject of widespread controversy as the past two days have seen wild volatility for....
Was stock trading app Robinhood the villain in the GameStop saga? “In a decentralized trading market, no one would have that power.” Was last week’s Reddit versus Wall Street stand-off really the “beginning of the end for centralized finance,” as Gemini founder Tyler Winklevoss described it? Or was it just a one-time instance of individuals coming together to right a perceived wrong — with no long-term economic consequences?As GameStop, a struggling videogame retailer, came under attack by hedge-fund short sellers, a coalition of individuals spearheaded by r/Wallstreetbets, a Reddit forum,....
As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GameStop, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Friday, CNBC reported.As per the new....
After a decidedly lackluster IPO debut last week, Robinhood shares have been wildly volatile in recent days, at one point skyrocketing by as much as 81% on the day. After making unwanted headlines with its disappointing initial public offering (IPO) debut on Nasdaq last week, shares in stock and cryptocurrency trading app Robinhood have seen wild volatility in recent days. In an ironic twist that saw the price of HOOD stocks soar by as much as 82% in one day, the app that has so often been the beneficiary of frenzied meme stock trading itself began to resemble the latest online craze.Since....
Robinhood announced Tuesday that it has agreed to acquire Ziglu, a fintech startup based in London that enables users to trade bitcoin and a variety of other cryptocurrencies. Robinhood’s stock increased nearly 6% Tuesday following the announcement of the Ziglu acquisition. Since its July initial public offering, the stock has fallen 71%. The acquisition will […]