{"id":118991,"date":"2021-07-29T19:10:13","date_gmt":"2021-07-29T19:10:13","guid":{"rendered":"https:\/\/fin2me.com\/?p=118991"},"modified":"2021-07-29T19:10:13","modified_gmt":"2021-07-29T19:10:13","slug":"robinhood-ceos-credentials-investigated-by-regulators","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/robinhood-ceos-credentials-investigated-by-regulators\/","title":{"rendered":"Robinhood CEO&#39;s credentials investigated by regulators"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>Robinhood&#8217;s initial public offering is arguably the most eagerly awaited of the year. But according to commentary on Reddit, it&#8217;s one of the least popular for some traders.<\/p>\n<p>There appear to be a lot of angry individual investors \u2014 the so-called apes of Reddit \u2014 who want nothing to do with the company or the stock. Some are even threatening to short the stock, betting it will go down.<br \/>\nShares were down about 5% in late afternoon Thursday after opening at the initial public offering price of $38. Robinhood had fallen as much as 10% at one point.<\/p>\n<ul><\/ul>\n<p>Investors are resentful toward Robinhood for temporarily halting purchases of <span>GameStop<\/span> <span>(<span>GME<\/span>)<\/span> and other meme stocks earlier this year when big institutions were trying to sell them. <\/p>\n<ul><\/ul>\n<p><img decoding=\"async\" alt=\"Members of the popular WSB board on Reddit have had some choice words for Robinhood.\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210129131315-wallstreetbets-reddit---stock-large-169.jpg\"><br \/>\nOne Reddit poster on a WallStreetBets thread dedicated to the Robinhood IPO wrote that the &#8220;halted trading on GME to protect themselves at the cost of investors (broke the free market mechanics).&#8221; A user in another IPO discussion simply wrote &#8220;Jan 28 #neverforget,&#8221; a reference to that day. <\/p>\n<p><noscript><img decoding=\"async\" alt=\"Robinhood reveals new regulatory probes on the eve of its blockbuster IPO\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210727164727-03-vlad-tenev-robinhood-0715-large-169.jpg\"><\/noscript><br \/>\nAnd it&#8217;s not just about GameStop: People are also ribbing and criticizing Robinhood for its &#8220;endless outages&#8221; \u2014 touting competitors like Fidelity and WeBull instead.<br \/>\nSeveral posters suggested shorting Robinhood stock \u2014 borrowing shares and immediately selling them with the hopes of buying them back later at a lower price and pocketing the difference once they returned the shares.<br \/>\nOne user wrote that there are &#8220;many apes on here salivating to short&#8221; Robinhood, while another said, &#8220;I&#8217;ve never shorted a stock before, but i&#8217;m ok with &#8216;firsts.'&#8221; <\/p>\n<h3>Not everyone is bashing Robinhood on Reddit<\/h3>\n<p>Still, several other posters noted that shorting a stock like Robinhood could be dangerous.<br \/>\nIt&#8217;s likely that many big mutual funds, hedge funds and other institutional investors will be eager to buy Robinhood stock. That could create a short squeeze \u2014 a phenomenon in which investors who bet against a stock must quickly buy it back before the price (and the short seller&#8217;s losses) climb higher.<br \/>\n&#8220;There&#8217;s a 100% chance that a hedge fund or someone looking to make a quick buck will buy a bunch of Robinhood shares to trigger a&#8230;short squeeze,&#8221; one Reddit poster wrote.<br \/>\n<img decoding=\"async\" alt=\"CEO Vlad Tenev on why now is the right time for Robinhood&amp;#39;s IPO\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210727153608-01-vlad-tenev-robinhood-0715-large-169.jpg\"><br \/>\n&#8220;Apes are going to try shorting this and end up triggering the MOASS on themselves,&#8221; wrote another poster, using the Reddit acronym for Mother Of All Short Squeezes.<br \/>\nStill, despite a wave of criticism, not every Reddit poster attacked Robinhood.<br \/>\n&#8220;I use Fidelity for the big stuff and RH for the small stuff. I think it&#8217;s a pretty solid interface and thanks to them we all get to enjoy no fee trades on all platforms,&#8221; one Redditor wrote, for example.<br \/>\nOthers argued that Robinhood&#8217;s PR problems this year could also eventually make it a solid takeover target for a larger financial firm. <\/p>\n<ul><\/ul>\n<p>&#8220;Unpopular opinion. they&#8217;ll do fine,&#8221; one poster wrote. &#8220;Worst case, a big bank buys them out and improves their reputation.&#8221;<br \/>\nAnother Redditor responded that &#8220;Vanguard should just buy RH for the interface and integrate it.&#8221;<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/07\/29\/investing\/robinhood-ipo-reddit\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)Robinhood&#8217;s initial public offering is arguably the most eagerly awaited of the year. But according to commentary on Reddit, it&#8217;s one of [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":118990,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Robinhood CEO&#039;s credentials investigated by regulators - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/robinhood-ceos-credentials-investigated-by-regulators\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Robinhood CEO&#039;s credentials investigated by regulators - Fin2me\" \/>\n<meta property=\"og:description\" content=\"New York (CNN Business)Robinhood&#8217;s initial public offering is arguably the most eagerly awaited of the year. 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