TheQuartering [1/28/2021]
We’re not done yet. This thing needs to have people put in jail. I want this app gone forever, the company buried, and anyone involved in jail.
Robinhood is one of the most popular ways for consumers to get in on the stock market, but the app is in some hot water with its users currently. After restricting some stocks today, the Robinhood Android app has been review bombed with thousands of negative reviews.
If you’re not looped in to what’s going on right now, let’s try to give a quick summary. In the stock market, a “short” allows traders to “borrow” a stock to attempt to make a quick profit. A group of Reddit users spearheaded a movement to buy up GameStop and other stocks after noticing that a hedge fund had taken out a huge number of short trades on GameStop. This caused the price of the stock to rise quickly and leave the hedge fund to lose billions of dollars.
Robinhood has since restricted the ability for users to buy select stocks including GameStop. The affected stocks include: $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG.
As a result of restricting those stocks, Robinhood’s Android app has been bombed with over 100,000 negative reviews, bringing the app’s Play Store rating to just 1-star, down from over 4 stars previously. So far, the iOS app is unaffected, with Apple potentially blocking the review bombs from affecting the overall score.