Tag Archives: robinhood

On Wednesday, Wall Street’s industry regulator fined Robinhood Financial LLC $70 million for “systemic” failings, including system outages, offering “false or misleading” information, and having poor options trading controls, all of which hurt millions of the app’s consumers. The penalty imposed by the Financial Industry Regulatory Authority (FINRA) is the …

Ice cube is suing Robinhood for allegedly using his likeness without permission.  The hip-hop mogul refers to a blog post from March 8 on Robinhood Snacks, a financial daily newsletter. A still from the 2007 film Are We Done Yet? appears in the article titled “Why are tech stocks falling?”  With …

The family of a 20-year-old man who committed suicide last summer after thinking he was in debt to Robinhood for $730,000 is suing the company.  According to CNN, the parents and sister of Alex Kearns filed the wrongful death lawsuit on Monday in California. They allege that the company lured in inexperienced …

The popular trading app Robinhood has now restricted the purchase of 50 different stocks, including blue-chip stocks like Starbucks and General Motors. After the disastrous fallout from last week’s GameStop stock debacle. According to the Daily Mail, the move is an apparent act of desperation after the company’s cash reserves …

As the prices of two well known digital coins spiked, Robinhood moved to ban users from hastily buying cryptocurrencies on Friday. Robinhood said it had temporarily disabled “Instant Deposits” for purchases of cryptocurrencies in a post on its website. That means that once the deposit clears, which may take up …

Elon Musk is standing by Rep. Alexandria Ocasio-Cortez’s stance against the stock trading app Robinhood. Ocasio-Cortez has asked for a House Financial Services Committee hearing regarding the app’s decision to stop trading GameStop stock, a decision that angered investors.  “This is unacceptable,” Ocasio-Cortez tweeted after the news of the halted …

An Illinois man is alleging that his funds are depleting after investing in Blackberry shares due to Robinhood blocking stock trading, and he believes it’s to protect “Wall Street hedge fund bros.” Richard Joseph Gatz is going after the financial services firm after they restricted people from purchasing shares from …

The Robinhood online trading platform is moving to block trading in some stocks that have recently soared due to smaller investors’ aggressive purchases. As a voluntary army of investors on social media challenged large institutions that had placed market bets that the stock would fall, GameStop stock rose from below …

Yesterday Twitter was in an uproar about the stock market and the Robinhood Investing app after they blocked users from purchasing certain shares. A rep for Robinhood announced, “In light of recent volatility, we are restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBY, $CTRM, …