Will Robinhood's IPO Be GameStopped?
Investors waiting for the chance to buy shares of Robinhood, the online trading app that helped democratize stock investing by eliminating transaction fees, might have viewed the recent GameStop drama with apprehension.
Many traders blame Robinhood for the collapse of the video game retailer's stock after it soared some 1,700% in a matter of days only to lose 90% of its value over the following week. The fact that the online brokerage banned or restricted buying GameStop and other so-called meme stocks served to fuel suspicion it was working closely with the hedge funds that were losing billions of dollars on their short positions.
Source Fool.com
