![]() ![]() Now that these lawsuits have been made public, Tenev will have even more damage control to do. This week, he even chatted with Barstool Sports founder and day trading guru Dave Portnoy, a known ringleader of Robinhood’s legions of ex-fans. Robinhood’s co-founder and CEO, Vlad Tenev, has had a busy month doing damage control, making an appearance during a Senate hearing on the GameStop craze. NEW YORK, Oct 28 (Reuters) - Elon Musk has taken ownership of Twitter Inc (TWTR. ![]() Kearns’s family filed a wrongful-death lawsuit earlier this month, blaming the app display. Kearns mistakenly thought that he had amassed $700,000 in losses in a single day, despite the fact that some trades had not cleared yet, meaning that Kearns didn’t owe the total amount. One trader, 20-year old Alexander Kearns, committed suicide last year because of the app. It was just one of a handful of outages that left day traders livid. Although it is never entirely clear what the CEO means, his followers are taking it as a good sign. In March 2020, as the stock market tanked due to the beginning of COVID lockdown, the platform shut down for some users in an apparent outage. He tweeted Gamestonk on Tuesday, including a link to r/WallStreetBets. Michael Burry suggested Elon Musks grand ambitions in space could cost the SpaceX CEO everything. Robinhood’s past scandals are also worth noting in light of the lawsuits. The SEC and Finra are both investigating Robinhood’s app display, which some customers say doesn’t list information about options trading and cash positions clearly. The company has received requests for information from the SEC, states attorneys general, financial regulators, and federal prosecutors over the trading restrictions it imposed on the meme stocks. The trading platform made a filing with the SEC on Friday, stating that it was being hit with “46 putative class actions and three individual actions.” Gamestonk Musk wrote on Twitter shortly after Tuesday’s closing bell, which saw GameStop end the day up nearly 93 percent at 147.98 more than seven times its value less than a month. 74 Likes, TikTok video from Brenton Loeffler (briloeaffler): 'Saw this on Twitter and lol robinhood invest gamestop gamestonk amc stock elonmusk. ![]() That’s right, 49 - all because of GameStop. Ever since Robinhood halted trading on meme stocks like GameStop and AMC last month, things have been even more difficult for the trading platform.Īfter facing online hatred, Senate hearings, and backlash from a slew of other scandals over the past couple of years, Robinhood is now faced with 49 lawsuits. ![]()
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