Robinhood Becomes a Stonk Itself
Robinhood has already had a crazy year, finding new growth during the pandemic as individuals stuck at home were searching for new ways to stay occupied. This growth has not been without obstacles, though. In June, Robinhood was fined $70 million for misleading customers. After all the craziness with GameStop and AMC, Robinhood has become a meme stock itself.
Robinhood initially opened stock up for users on their app, allowing early purchases before going public. After an initially lackluster public opening, Robinhood skyrocketed earlier this week, only to nosedive after investors file to sell almost 100 million shares at a later date.