Robinhood promises to fix ‘the issues’ that outraged customers when it restricted trading in meme stocks

Robinhood promises to fix ‘the issues’ that outraged customers when it restricted trading in meme stocks

Robinhood earlier this year when the trading app halted buying of GameStop, AMC, and other meme stocks amid an epic rally "” and the company has pledged to earn back the trust of frustrated customers. In a roadshow event Saturday , Robinhood cofounder and CEO Vlad Tenev said the company is "focusing on is making sure we fix the issues that led to customers being upset." The app's growth has been "amazing," he said, but "it has led to some real challenges." "We're committed to learn from these experiences and help ensure they never happen again," he said. drew customers' ire when it during a Reddit-fueled frenzy in January, only allowing users to sell. Outraged traders flooded the app with one-star reviews on Google, lowering its user rating. Many said they would stop using the app in protest, and Redditors on the investing thread Wall Street Bets called for legal action. Despite the blowback and ensuing regulatory scrutiny, Robinhood, which was launched in 2013 with the mission to " saw a huge jump in new users in the first quarter, according to its S-1 filing. Monthly active users jumped by 6 million in the first three months of 2021 to