If you moderately follow current events or have a bro in your office that’s “hella into cryptocurrency, man,” you’re likely aware of the retail brokerage investment app that has been partially credited with extreme rises in the price of certain stocks such as GameStop. When Robinhood halted trading on some stocks of huge volatility last week, enabled by Redditors fading heavily short-sold companies, the retail investors were shut out while hedge funds and investment banks continued to trade unencumbered. It made for some furious account holders as well as terrific memes.
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The crisis only seemed to marginally hurt Robinhood, who saw 600,000 people download their app last Friday alone. But a bit of good PR probably won’t hurt considering the barbarians at the gate as of last week.