Robinhood just had another controversial week that frustrated users. Here's what went down.
published 17.10.2020 16:21
Robintrack.net was a website that used Robinhood's public data feed to tell users how many Robinhood accounts owned a particular stock on any given day.
Also on Thursday, Robinhood sent out an e-mail prior to the market open notifying its users of an increase in the cash reserve needed to trade on margin for some widely held securities.
Following a Bloomberg report from last week on a number of Robinhood users who helplessly saw their accounts liquidated, a separate Bloomberg report said on Thursday that an internal review at the company found nearly 2,000 compromised Robinhood accounts, according to an unnamed source familiar with the review.
But some Robinhood news that may excite investors is a Bloomberg report that says the app may once again make trading data public, which would reopen the popular Robintrack.net website.
Also on Thursday, Robinhood sent out notices to its users that traders on margin would have to increase their cash position on several widely held stocks to help protect them from potential volatility related to the US election.