Archives

March 21, 2021 @ 2:58 pm By JD Alois  |  

This past week, the House Committee on Financial Services held part two of three anticipated hearings on the GameStop/Reddit/Robinhood saga. As most people are aware, in recent months a short-squeeze caused shares in GameStop (NYSE:GME) to jump dramatically higher compelling short sellers to purchase shares… Read More

March 15, 2021 @ 5:46 pm By JD Alois  |  

As previously reported, the House Committee on Financial Services will host part two of the hearing tackling the GameStop/Robinhood/Reddit trading phenomenon tomorrow. “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide, Part II” will be live-streamed on the Committee’s… Read More

March 8, 2021 @ 10:09 am By JD Alois  |  

Robinhood, a digital investment platform that is heavy on social engagement, has been battered by its use of the practice of payment for order flow. This is where the trading platform sells the ability for dealers to route trades in their direction. Because Robinhood offers… Read More

March 5, 2021 @ 4:00 pm By JD Alois  |  

Robinhood, a digital trading platform that has emerged as a popular venue for younger investors, is expected to pursue an initial public offering (IPO) listing shares on the NASDAQ, according to CNBC. It was reported last month that Robinhood may become a public company as… Read More

February 28, 2021 @ 9:44 pm By Omar Faridi  |  

Robinhood Markets Inc, the leading zero-fee stock trading app provider, stated on Friday (February 26, 2021) that US regulatory authorities were investigating the firm’s temporary trading restrictions on these so-called “meme stocks” earlier in 2021. These activities have come under increased scrutiny as the shares… Read More

February 27, 2021 @ 8:08 am By Omar Faridi  |  

Robinhood Markets Inc., the digital investment and trading platform that’s largely behind or at least part of the trading frenzy in GameStop Corp.’s company shares, is reportedly planning to file confidentially for an IPO at some point next month or later, according to Bloomberg which… Read More

February 18, 2021 @ 8:25 am By JD Alois  |  

As the House Financial Services Committee prepares for its first of three hearings to investigate the Robinhood/GameStop/Reddit odyssey additional information continues to be distributed. Yesterday, Senator Elizabeth Warren, who sits on the Senate Banking Committee, posted a comment regarding a letter she sent to Robinhood… Read More

February 18, 2021 @ 8:05 am By Omar Faridi  |  

Digital investment platform Robinhood stated on Wednesday (February 17, 2021) that it is planning to give its clients the option to deposit and withdraw digital currencies, including the “meme crypto” Dogecoin (DOGE). The stock trading app has become really popular with younger Millennial and Gen… Read More

February 17, 2021 @ 5:29 pm By JD Alois  |  

The House Committee on Financial Services will hold the first of three hearings on the Gamestop – Robinhood saga that saw hedge fund short sellers compelled to sell positions in a short squeeze driven by collaborative trading that was organized on Reddit. Entitled, “Game Stopped?… Read More

February 13, 2021 @ 11:10 am By JD Alois  |  

The House Committee on Financial Services, Chaired by Maxine Waters, has announced the witnesses on the forthcoming hearing entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.” Witnesses include: Vlad Tenev, Chief Executive Officer, Robinhood Markets, Inc. Steve Huffman, Chief Executive… Read More

February 10, 2021 @ 9:15 pm By Omar Faridi  |  

This past week could have just been one of the worst weeks in Robinhood’s 8-year history, however, it also might have been one of the best in some ways. According to estimates, the private firm’s app was downloaded over 1 million times from this past… Read More

February 7, 2021 @ 8:21 pm By Omar Faridi  |  

Digital investment platform Robinhood is reportedly facing around 30 different lawsuits from traders for shutting down or not supporting GameStop trading. Several groups of Robinhood‘s clients have filed lawsuits against the stock trading service provider. Lawsuits have alleged the firm violated certain laws by imposing… Read More

February 5, 2021 @ 8:51 am By Omar Faridi  |  

Balaji S. Srinivasan, a prominent angel investor and entrepreneur, says that Fintech is “the frontend,” while crypto is like “the backend.” Balaji, the former CTO at leading digital asset exchange Coinbase, points out that Fintech and blockchain/crypto technologies have been “built mostly in parallel over… Read More

February 1, 2021 @ 3:19 pm By JD Alois  |  

Senator Elizabeth Warren has sent a letter to the US Securities and Exchange Commission demanding answers to several questions regarding the heightened volatility pertaining to the recent short-squeezes ostensibly created by Redditors focusing on hedge funds with heavy short positions. Senator Warren said the price… Read More

February 1, 2021 @ 1:44 pm By JD Alois  |  

Robinhood has raised $3.4 billion in capital from Ribbit Capital, CONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA. The additional funding is a solid sign of commitment by investors as Robinhood struggles in light of heightened volatility of shares like Gamestop driven by Reddit… Read More

January 29, 2021 @ 9:18 am By JD Alois  |  

Robinhood CEO and founder Vlad Tenev visited with CNBC last night professing that actions taken to mitigate trading in GameStop (NYSE:GME) was to protect Robinhood as well as its users. Tenev’s decision to shut down purchases of GME was joined by outrage, not just by… Read More

January 28, 2021 @ 5:05 pm By JD Alois  |  

Robinhood appears to be making things worse instead of better in its attempt to manage trading in highly shorted securities like GameStop and AMC entertainment. Crowdfund Insider has just received an email from Blind regarding a survey of Robinhood users indicating that a whopping 76%… Read More

January 28, 2021 @ 4:41 pm By JD Alois  |  

Robinhood is retreating a bit in its decision to curtail trading in shares of GameStop and other securities like AMC Entertainment that have been the focus of traders communicating on Reddit. The investment Fintech has just announced it will allow limited buys in these volatile… Read More

January 28, 2021 @ 3:44 pm By JD Alois  |  

  Senator Sherrod Brown, the incoming Chairman of the Senate Banking Committee, will be holding a hearing on the GameStop – Reddit phenomenon, according to a tweet. Senator Brown said it was time for the SEC and Congress to make the economy work for everyone… Read More

January 28, 2021 @ 11:22 am By JD Alois  |  

As was previously reported, Robinhood has restricted trading on Gamestop (NYSE:GME), AMC Entertainment (NYSE:AMC), and other securities being targeted by Reddit traders. The move was designed to quell the excessive volatility and rapid price rise in shares that have been targeted by hedge funds with… Read More