Robinhood CEO Poorly Explains Why Company Restricted Trading on GameStop and Other Stocks
Trading Platform Robinhood Fined 65 Million By Securities And Exchange Commission | Justin Sullivan/Getty Images
Robinhood caused major controversy on Thursday when the company restricted trading on GameStop and a number of other stocks. The Internet freaked out over the move and even Republicans and Democrats agreed it was an outrageous decision that demanded an explanation. The company s CEO, Vlad Tenev, joined Aaron Ross Sorkin on CNBC Thursday night to explain why it happened. It didn t go well.
Tenev tried to give some sort of explanation, but it felt like a guy talking around the issue, rather than just plainly saying what drove the company to restrict trading. The segment is below: