Robinhood is now a stonk
The wild swing in the price of Robinhood today appears from our vantage point to be another stonk moment. Update: Trading of Robinhood shares has been halted due to volatility. The company’s stock paused at $65.60 on Robinhood itself......»»
What is Robinhood?
Whether you’re an investor or someone who follows the news closely, you’ve probably heard of Robinhood. Here's everything you need to know about the platform......»»
A fraction of Robinhood’s users are driving its runaway growth
Borrowing a term from the casino trade, these whales generate the bulk of the company's revenue stream. Yesterday’s House Financial Services Committee hearing about GameStop and Robinhood wasn’t great. Reuters has a good summary.....»»
Robinhood says GameStop volatility was a “1 in 3.5 million” black swan
CEO Tenev tells House committee quicker trade settlements would prevent a repeat. Enlarge / Ready, take aim, and let fly... (credit: Aurich Lawson / Getty Images) Robinhood's move to temporarily limit purchases of GameStop and other highly vol.....»»
Robinhood says Gamestop volatility was a “1 in 3.5 million” black swan
CEO Tenev tells House committee quicker trade settlements would prevent a repeat. Enlarge / Ready, take aim, and let fly... (credit: Aurich Lawson / Getty Images) Robinhood's move to temporarily limit purchases of GameStop and other highly vol.....»»
Robinhood boss says GameStop episode "unacceptable"
Lawmakers grill key players in the GameStop trading frenzy at a hearing in Washington......»»
Robinhood goes to Congress
Update: There’s an entire second session of this? My lord. Today the House Financial Services Committee dragged the CEO of Reddit, a Cato wonk, social media icon DeepFuckingValue, the CEO of Citadel Kenneth Griffin, a hedgefund bro who got whom.....»»
As expected, stock trading service Public raises $220M at unicorn valuation
The day before Robinhood goes under the the Congressional hammer, domestic rival Public.com announced this morning that it has closed a $220 million funding round at a $1.2 billion valuation. News of the round was first broken by TechCrunch. Further.....»»
Government Agencies Begin Investigating Robinhood, Reddit Over GameStop Stock
An anonymous reader quotes a report from CNET: GameStop's stock price shot through the roof in late January thanks to traders on Reddit. Now at least two government agencies are reportedly investigating why it happened as well as what roles Reddit an.....»»
Robinhood’s pain is Public’s gain as VCs rush to give it more money
Public.com, a social-focused free stock trading service, is nearing the close of a Series D just two months after raising a $65 million Series C, sources familiar with the matter told TechCrunch. The San Francisco-based fintech aims to give people th.....»»
Robinhood Sued By Family of 20-Year-Old Trader Who Committed Suicide
Robinhood was sued Monday for wrongful death by the family of Alex Kearns, a 20-year-old customer who took his life last summer after believing he had racked up big losses on the millennial-favored stock trading app. CNBC reports: "This case centers.....»»
GameStop, AMC Experienced Their Worst Weeks Ever. Robinhood Lifts Purchasing Limits
"Even with Friday's bounce, GameStop Corp. wrapped up its worst week on record as a stunning reversal of fortune wiped out $18 billion from the video-game retailer's stock-market value," reports Bloomberg: The stock fell 80% in the last five days,.....»»
Robinhood Stops Limiting GameStop Shares
Robinhood has lifting all the buying curbs imposed at the height of the battle between amateur investors and Wall Street hedge funds. The change comes one week after the online broker limited clients to only buying a single share of GameStop and expa.....»»
How the GameStop stonkathon helped Robinhood raise $3.4B last week
In a single week, Robinhood raised more money than all startups in Spain, Italy, Ireland, Poland, Austria, Hungary and Russia combined last year. Robinhood has shown an impressive ability to raise enormous amounts of capital in the past few.....»»
Accel backs Mexican startup Flink’s effort to bring consumer investing to Latin America
Here in the U.S., we take for granted the ability to invest and trade in the stock market. So while we can get in an uproar about the various ways Robinhood may or may not be acting responsibly, it can be easy to forget that not everyone in the world.....»»
Robinhood Screwed Its Users But Is More Popular Than Ever
An anonymous reader quotes a report from Motherboard: Robinhood is seemingly still very popular. According to The New York Times, Thursday -- the day of Robinhood's strictest trading restrictions -- was also its best ever: it saw over 177,000 downloa.....»»
Bumble IPO could raise more than $1B for dating service
Could this IPO prove that there is lucrative space in the market for more dating products? On the heels of private companies Robinhood and Databricks each raising $1 billion or more yesterday, Bumble is out with a new IPO filing this mornin.....»»
Robinhood Plummets Back Down To a One-Star Rating on Google Play
Investment app Robinhood has plummeted back down to a one-star rating on Google Play, thanks to a flood of thousands of new negative reviews. From a report: The latest low rating comes just days after Google salvaged the app's rating by removing near.....»»
Robinhood CEO To Testify Before Maxine Waters" Panel On GameStop
The CEO of online stock brokerage Robinhood is expected to testify before a House committee on Feb. 18 as lawmakers dig into the firm's role in the tumultuous trading of GameStop stock and other companies, people familiar with the matter said. Politi.....»»
Robinhood Raises Another $2.4 Billion as Broker App Deals With Retail Trading Frenzy
As it sits amid the recent extreme bouts of market volatility, discount online brokerage Robinhood has been able to raise another $2.4 billion from investors, the company said Monday. From a report: That brings to $3.4 billion that the firm has been.....»»
Robinhood’s Q4 2020 revenue shows a return to growth
So much for a blowback! Deeply funded fintech company Robinhood has been the world’s most discussed startup over the last week. After the discount trading pioneer found itself in the midst of a battle between hedge funds on one side a.....»»