robinhood markets
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Return of Roaring Kitty Sends Meme Stocks Into Chaos
GameStop and other meme stocks surged wildly on Monday morning as Keith Gill returned to social media. The leader of the 2021 meme-stock mania, also known as Roaring Kitty and Deep Fucking Value, sent a single tweet on Sunday night that shook the universe of meme stocks, as their fearless leader signaled a second coming.…
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PayPal Begins Layoffs, Plans to Shut Down San Fransisco Office
PayPal has reportedly started laying off employees this week from its offices in Chicago, Omaha, Nebraska and Chandler, Arizona, in an effort to reduce its spending. The financial technology company is also planning to shut down its San Fransisco office, but will not freeze its hiring, according to TechCrunch.
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Robinhood Must Pay User Nearly $41,784 Over Meme Stock Trading Halt
In January 2021, stock trading app Robinhood infuriated users when it responded to surging trades of so-called meme stocks, by halting trades — effectively preventing users from selling shares until the prices had collapsed. Congressional hearings, regulatory probes, and a deluge of regulatory complaints and lawsuits ensued, which was at least one cause of its…
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PayPal Wants to Develop Stock Trading Platform: Report
PayPal is interested in developing a stock trading platform, according to a report from CNBC that cites anonymous sources at the company. The move would make PayPal a direct competitor of Robinhood, a stock trading app that’s helped create a surge in retail investing but is coming under increased scrutiny from the Securities and Exchange…