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Analysis: Robinhood CEO's U.S. lawmaker grilling spotlights broker's hidden risks


Analysis: Robinhood CEO s U.S. lawmaker grilling spotlights broker s hidden risks
Michelle Price
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By Michelle Price and Anna Irrera
WASHINGTON (Reuters) - Robinhood CEO Vlad Tenev told a congressional hearing that his decision to curb buying in some stocks such as GameStop Corp during a period of extreme volatility was unavoidable, but industry experts said it only underscored the risks the popular trading app was willing to accept to expand its market share.
Robinhood s Jan. 28 restrictions on buying GameStop and other stocks that hedge funds had bet against drew the ire of its customers and U.S. lawmakers at a hearing on Thursday. They accused it of doing Wall Street s bidding by shielding the hedge funds from an army of amateur traders banding together on Reddit to take them on. ....

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Vlad Tenev hearing: Robinhood CEO's US lawmaker grilling spotlights broker's hidden risks


WASHINGTON: Robinhood CEO Vlad Tenev told a congressional hearing that his decision to curb buying in some stocks such as GameStop Corp during a period of extreme volatility was unavoidable, but industry experts said it only underscored the risks the popular trading app was willing to accept to expand its market share.
Robinhood s Jan. 28 restrictions on buying GameStop and other stocks that hedge funds had bet against drew the ire of its customers and US lawmakers. They accused it of doing Wall Street s bidding by shielding the hedge funds from an army of amateur traders banding together on Reddit to take them on. ....

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