Spotted: Protesters outside Robinhood headquarters in Menlo Park

by Linda Hubbard on January 28, 2021

Protesters gathered outside Robinhood’s headquarters in Menlo Park today after the stock-trading app said it would limit trades of GameStop.

“Starting tomorrow, we plan to allow limited buys of these securities,” a  spokesperson for the popular trading app said.“We’ll continue to monitor the situation and may make adjustments as needed.”

By eliminating trading fees and making stock trading easy, Robinhood has attracted millions of millennials to trade on its platform. On Thursday morning, the company indicated that it would limit buying of the kinds of securities that have sparked an enormous rally in shares of GameStop, the video game retailer at the heart of the frenzy, and AMC Entertainment Holdings, the movie theater chain, and a number of other companies.

The Skimm has a good condensed account of what the flap is all about in its daily newsletter.

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