House GameStop Hearing Delves Into Robinhood, Reddit And WallStreetBets
House GameStop Hearing Delves Into Robinhood, Reddit And WallStreetBets Deadline 2/19/2021 Vlad Tenev, founder of retail stock trading app Robinhood, told a House Committee on Thursday that “the financial system should be open to everyone,” including frenzied buyers of GameStop and AMC Entertainment whipped up by a Reddit chatroom. He apologized profusely that a funding rule had forced the app to subsequently block share purchases – a temporary restriction that was a focus of the five-hour hearing today. The stocks fell and some Robinhood users lost their shirts. More from Deadline Te...