March 7, 2021

Robinhood

‘Big Short’ investor Michael Burry has warned of a stock-market bubble and slammed Tesla, Robinhood, bitcoin, and the GameStop frenzy in recent weeks. Here are his 17 best tweets. | Currency News | Financial and Business News

Christian Bale as Michael Burry in “The Big Short.”



Michael Burry has been sounding the alarm on hype and speculation in markets for months, warning that the reckless promoting and buying will result in a devastating crash.

The investor has taken aim at Tesla – which he’s short – as well as bitcoin, Robinhood, and the GameStop buying frenzy in recent weeks.

The Scion Asset Management chief is best known for his billion-dollar bet against the US housing bubble in the mid-2000s, which was immortalized in Michael Lewis’ book “The Big Short.” He was

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Under fire, Robinhood CEO apologizes to Congress for restricting trading

Wall Street, Silicon Valley, rogue internet chatrooms and Congress collided Thursday in a hearing to dissect what went down during the recent skyrocketing rally of GameStop and other stocks.

The virtual hearing of the House Financial Services Committee was called after shares of GameStop, AMC and other stocks favored by online traders surged late last month on the back of a “short squeeze” strategy that made early investors millions of dollars on paper, while hedge funds that bet against them lost billions.

Many of the retail investors used the zero-commission trading app Robinhood to execute their trades — but they

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Unlike Robinhood, the best investing apps don’t involve day trading

The recent astronomical rise of meme stocks brought many people to the stock market for the first time, typically through Robinhood, the commission-free stock trading app that has promised to democratize access to the stock market. According to a number of financial advisers, the app appears to be democratizing certain types of risky investing, like day trading. There are potentially less risky — and equally user-friendly — app options out there.

The thing is, it’s impossible to predict the market. Many professionals spend their entire careers trying to do so, with varying levels of success. And regular people who invest

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GameStop Hearing With Roaring Kitty and Robinhood C.E.O.: Live Updates

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Robinhood C.E.O. Faces Scrutiny From House Lawmakers

Vlad Tenev, the chief executive of Robinhood, apologized for temporarily limiting trading of GameStop after Jan. 28, but said his company did nothing wrong at a House Financial Services Committee hearing on GameStop.

“Jan. 28 proved to be a completely unprecedented event — the spike in trading activity and volatility meant that Robinhood securities, our clearing broker, had to hold the line and post additional firm capital as collateral to support our clearinghouse deposit demands. To put it in perspective, on Jan. 28,

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GameStop: US lawmakers to quiz key players from Robinhood, Reddit and finance | GameStop

Frenzied trading in the shares of GameStop and other companies will be the subject of what is expected to be a fiery hearing in Congress on Thursday, when US politicians get their first chance to quiz executives from the trading app Robinhood, Reddit and other players in the saga.

The House financial services committee will hold a hearing at noon in a first step to untangling the furore surrounding trading in GameStop, AMC cinemas and other companies whose share values soared to astronomical levels as small investors piled into the stocks.

The hearing, titled Game Stopped? Who Wins and Loses

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Family of Robinhood user who died by suicide sues company

The family of a 20-year-old user of the stock trading app Robinhood sued the company Monday, alleging that its “aggressive tactics” and targeting of young, inexperienced investors led to the user’s death by suicide last year.

In a 30-page complaint filed in California’s Santa Clara County Superior Court, the family of Alex Kearns cited his last known written words — “How was a 20-year-old with no income able to get assigned almost $1 million worth of leverage?” — and said the Silicon Valley-based company lures users like Kearns into taking big risks with the promise of big profits.

“Though Alex

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