Robinhood hits new low as FTX US and Bitstamp USA move into stocks
As crypto trading cools down, the ability to trade stock on FTX US might be only months away, according to a tweet from the exchange’s president. Bitstamp USA has also signaled it's looking at stocks. Crypto exchanges FTX US and Bitstamp USA are working on offering stock trading, which would be a further blow to Robinhood as its share price slumps to new lows. FTX US President Brett Harrison tweeted on Tuesday that the crypto exchange is “hard at work on stocks,” commenting that a launch would be coming in “a couple months.” We’re hard at work on stocks! Features we’re planning for day 1:....
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Robinhood has IPO’d recently, raising close to $2 billion. This is quite a low figure from the $32 billion that the company was valued at before it went public. Robinhood had surged to popularity during the 2020 pandemic when meme stocks had blown up on social media. The app which offered seamless stocks and crypto […]
Spacex and Tesla CEO Elon Musk has been trying to get to the bottom of what happened with the popular trading app Robinhood when it stopped people from buying shares of hot stocks, like Gamestop. The shares of these stocks became popular due to the Wallstreetbets movement. Elon Musk Says People Want the Truth From Robinhood During an interview on The Good Time Show via the Clubhouse app Sunday night, Elon Musk grilled the CEO of trading app Robinhood, Vlad Tenev, over the company’s decision to restrict hot stocks last week, including Gamestop. On Friday, Robinhood also restricted....
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....
It's been more than a year, but investors continue to make allegations against Robinhood following the January 2021 controversy around trading GameStop and AMC stocks. Cryptocurrency and stock trading platform Robinhood will allegedly face allegations of market manipulation as part of a class-action lawsuit brought by investors in “meme stocks” from nine different companies during a January 2021 rally.According to a Thursday report from Reuters, United States District Court Judge Cecilia Altonaga of the Southern District of Florida ruled that investors in GameStop, AMC and seven other....
Robinhood, the app that popularized free one-click stock and crypto trading, revealed on Tuesday that it would lay off roughly 340 full-time employees, or around 9% of the 3,800 workforce. The move, according to Robinhood CEO Vlad Tenev, is in response to a decline in active users following a period of rapid growth early in […]