By now, you must've heard the commotion around Robinhood, but let me tell you a story. I have a friend, and fraternity brother, that bought stock recently. Gamestop stock. On Robinhood. When it was $80 a share. Where was it yesterday near close? $353 A SHARE!!!!
My friend decides, ok time to cash out and help my parents pay the rent and pay some of my student lo.....yo what just happened?
Robinhood: We've refunded your $1,000 investment even though we sent you a confirmation last night that we are selling your shares.
And poof. Thousands of $ vanishes. Capital that could be spent by the little guy who used information to get an edge available to the public eye.
This app has been getting fined, preying on low tier investors to steal their money, and is now just outright saying screw you and stealing money from people that turned to it with an aspiration to gain financial security one day. The irony that robinhood stole from the rich and gave to the poor while this app is partying like a Russian Tsar pre-1917 is not lost on me.
My friends, colleagues, and esteemed crypto enthusiasts, I'm begging you today to delete the Robinhood app. Destroy it, Uninstall it, bash the ceo, fuel the fit of rage that is going to lead to a congressional oversight committee stepping in and investigating this company with low moral values and absent of concise leadership.
Delete Robinhood.