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BREAKING NEWS

All of Beach Boulevard closed in both directions at I-295 due to police activity: JSO

ROBINHOOD


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Florida AG accuses Robinhood of falsely promoting itself as ‘least expensive’ way to buy cryptocurrency, launches probe

Read full article: Florida AG accuses Robinhood of falsely promoting itself as ‘least expensive’ way to buy cryptocurrency, launches probe

Florida Attorney General James Uthmeier said Thursday that his office has submitted a subpoena to “uncover internal documents” belonging to Robinhood Crypto, LLC, after alleging that the company misled its customers by promoting itself as the “least expensive” way to purchase cryptocurrency.

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Robinhood takes on retirement in search for more growth

Read full article: Robinhood takes on retirement in search for more growth

After blazing onto Wall Street by making trading fun for its customers, Robinhood is now setting its sights on a more staid corner of the industry: saving for retirement.

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Markets 2021: Stocks soar, IPOs explode, crypto goes wild

Read full article: Markets 2021: Stocks soar, IPOs explode, crypto goes wild

Wall Street delivered another strong year in 2021, as a spike in consumer demand fueled by the reopening of the global economy pumped up corporate profits.

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Robinhood hit by data breach exposing users' emails, names

Read full article: Robinhood hit by data breach exposing users' emails, names

Popular investing app Robinhood said Monday that it suffered a security breach last week where hackers accessed some personal information for roughly 7 million users and demanded a ransom payment.

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Robinhood sees valuation of up to $35 billion as public co.

Read full article: Robinhood sees valuation of up to $35 billion as public co.

Online brokerage Robinhood is looking for a market valuation of up to $35 billion.

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Robinhood wants customers to get big chunk of shares in IPO

Read full article: Robinhood wants customers to get big chunk of shares in IPO

Robinhood, the trading app that’s empowered a new generation of investors, wants to sell a big chunk of its stock to those customers when it goes public, instead of just the big professional funds that usually get first dibs.

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Robinhood cans the confetti, unveils new celebratory designs

Read full article: Robinhood cans the confetti, unveils new celebratory designs

This photo provided by Robinhood shows the new animation on the Robinhood mobile app. (Robinhood via AP)NEW YORK – The bursts of confetti that shower screens of Robinhood investors when they make their first trade — and serve as the punchline for critics who say the popular app treats investing like a game — are going away. Starting this week, Robinhood will begin retiring the confetti, which was meant to celebrate customers hitting milestones like making their first deposit or enabling new features, such as upgrading to its paid Gold-level membership. Massachusetts regulators last year cited the confetti in particular as part of a complaint they filed against Robinhood, alleging that it targets and manipulates inexperienced investors. Robinhood allows some investors to trade stock options and to buy using borrowed money, like other brokers, which can supercharge gains and losses.

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Stock trading app company Robinhood files plan to go public

Read full article: Stock trading app company Robinhood files plan to go public

FILE - This Dec. 17, 2020, file photo shows the logo for the Robinhood app on a smartphone in New York. Stock trading app company Robinhood said Tuesday, March 23, 2021 that it has submitted a confidential plan to go public later this year. (AP Photo/Patrick Sison, File)CHARLOTTE, N.C. – Stock trading app company Robinhood said Tuesday that it has submitted a confidential plan to go public later this year. Robinhood found success — as well as significant criticism — for its business model making stock trading easier for retail investors. The company's app allows investors to buy fractions of a share in a company, and turns stock trading into almost a game.

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Robinhood CEO defends actions in GameStop saga at hearing

Read full article: Robinhood CEO defends actions in GameStop saga at hearing

(House Financial Services Committee via AP)WASHINGTON – The CEO of Robinhood defended the trading platform to Congress Thursday for its actions during the GameStop trading saga, while apologizing to customers for restricting their ability to trade at the height of the frenzy. AdTenev said Robinhood imposed the trading restrictions because regulators had increased capital requirements tenfold due to the spike in trading volume. Gill earned a handsome profit and a legion of online followers for making the case for GameStop shares on Reddit and YouTube long before the big price surge in January. Beyond Robinhood’s actions during the GameStop frenzy, lawmakers raised concern about its business model generally and possible downsides of its “democratization” of stock trading. The company offers commission-free trading, but critics say customers pay another, hidden price because Robinhood provides their data on buying and selling to Wall Street firms.

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Lawmakers to face off with GameStop saga's key players

Read full article: Lawmakers to face off with GameStop saga's key players

The GameStop saga has been portrayed as a victory of the little guy over Wall Street giants but not everyone agrees, including some lawmakers in Washington. GameStop shares soared 1,600% in January before falling back to earth. GameStop stock plunged 60%, to $90 on Feb. 2, wiping out hundreds of thousands of dollars in a few hours. A raft of lawsuits were filed against Robinhood in federal court by platform users who suffered losses when they were frozen out of GameStop trading. There are indications that contrary to the populist fable, it was the Wall Street titans that mostly benefited in the end from the GameStop rollercoaster.

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What’s behind the GameStop stock roller coaster

Read full article: What’s behind the GameStop stock roller coaster

A woman wears a face mask as she walks past a GameStop store in Des Plaines, Ill., Thursday, Oct. 15, 2020. At least, thats the view within an army of smaller-pocketed, optimistic investors who are throwing dollars and buy orders at the stock of video-game retailer GameStop. There was a steep drop in the stock price on Thursday, but it rose 70% again Friday after Robinhood said it will allow customers to start buying some of the stock again. We can sell a stock at today’s price knowing that, perhaps, the whole industry is changing. Both the Senate Banking Committee and the House Financial Services Committee plan to hold hearings on the GameStop controversy.

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Robinhood raises $3.4B from investors amid surge in trading

Read full article: Robinhood raises $3.4B from investors amid surge in trading

(AP Photo/Patrick Sison, File)Popular online trading platform Robinhood said Monday that it has lined up $3.4 billion to help meet its funding requirements amid a spike in trading on Wall Street fueled by small investors driving up shares in GameStop and other stocks. Robinhood needed to secure funding in order to meet deposit thresholds required by organizations that handle the trading orders placed by investors on its platform. Last week, Robinhood, Charles Schwab and other retail brokerages placed limits on trading of GameStop, AMC, Express and other stocks popular with small investors. The move led to a swift backlash from customers and criticism from some lawmakers claiming small investors were being treaded unfairly. GameStop stock vaulted from below $20 earlier this month to close around $350 as of last week.

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Brokerages limit trading in GameStop, sparking outcry

Read full article: Brokerages limit trading in GameStop, sparking outcry

The frenzy surrounding shares of GameStop, AMC and others has drawn in an influx of investors with little or no experience trading stocks. That poses a challenge for brokerages that cater to small investors, said Andy Nybo, managing director at Burton-Taylor International Consulting. The company has forced huge, ground-shaking changes for the brokerage industry, such as its decision to charge zero commissions for customers trading stocks and exchange-traded funds. AdZiad Cohen, another Robinhood user, said he'll ditch the trading portal once he sells his GameStop shares. The recent surge in GameStop has been the product of a tug-of-war between small investors and some big institutions.

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E-Trade cuts commissions to zero along with rest of brokerage industry

Read full article: E-Trade cuts commissions to zero along with rest of brokerage industry

Spencer Platt/Getty ImagesNEW YORK - Zero is now the hottest number in the online brokerage industry. Last week, a smaller competitor, Interactive Brokers Group, started its new IBKR Lite service, which also eliminated commissions for US-listed stocks and ETFs. Shares of all four companies were hit hard in the past two days as investors worried about the impact that zero commission trading would have on their profits. E-Trade's move was all but inevitable after Schwab and TD Ameritrade each announced that they were ending commissions for investors trading stocks, futures and options. The entire discount brokerage industry is dealing with brutal competition from upstarts like Robinhood, which already offers trading services with no or low commissions via popular mobile apps.

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