(Menlo Park, CA) - Robinhood has made headlines throughout the Covid-19 pandemic as the trading app that millions of retail traders turned to to invest their extra time and money. New investors became day-traders using Robinhood and congregated on a variety of online forums, the Reddit subreddit r/wallstreetbets being the most notable. Fortunes were made and lost more than a few times, usually with stunning levels of risk-taking and openness.
Robinhood has made it more difficult or impossible to trade certain stocks after seeing a few days of extreme volatility in handful of stocks ($GME, $AMC, and others). They are also rolling out a complete rebrand away from the "Robinhood" brand to "Sheriff Of Nottingham Captial, LLC". A spokesperson had this to say when reached for commnent:
"We feel that our branding should always closely align with our mission and ethos as a company. That can evolve over time, of course, and with that in mind, we felt it was time to retire the beloved Robinhood brand and switch to the more accurate 'Sheriff Of Nottingham Captial, LLC' moniker. We'll also be rejigerring our roadmap to focus on new customers entering the market; our studies show that there are a variety of former hedge-fund-manager types looking for more affordable investing options coming online"