Despite criticism from both US users and lawmakers, and even a lawsuit around his neck after trade restrictions were imposed on GameStop, AMC, and other stocks targeted by the r / WallStreetBets community, Robinhood still does. You can expect more capital investment and a flood of users.
The popular free investing app, which by definition of “democratic” investments while selling users’ trading data to hedge funds, has recently become popular with small investors who buy GameStop stocks through the app as if it were not tomorrow, sabotaging the artificial use of the store’s exchange rate. the games. Therefore, Robinhood restricted trading by non-professional investors, and prohibited them from purchasing AMC or GameStop stocks. Users did not consider the withdrawal fair either, and lawmakers have also called for hearings.
Many people love Robinhood
Despite Robinhood’s negative twists and turns, its app and service remain more popular than ever. According to the New York Times, last Thursday, the day Robinhood’s stricter commercial restrictions were imposed, was also the best app to date: it had more than 177,000 downloads (double the daily indicator for the previous week) and had 2.7 million users. Today.
Robinhood also announced Monday that it raised an additional $ 2.4 billion in a new round of financing led by Ribbit Capital and has also attracted investors such as ICONIQ Capital, Andreessen Horowitz, Sequoia Capital, Index Ventures and NEA.