I’m going to go to Palo Alto wearing a Karen wig and do a bit in the parking lot all day.
EXCUSE ME. SIR? DO YOU WORK HERE? I WOULD LIKE TO SPEAK TO THE MANAGER.
Not sure why Robinhood is so popular with r/WSB and Chapos. It is definitely one of the sketchier brokers. Take a look at its Wiki page, it’s filled with controversies and outlines some of the less savory business practices they do (ex. selling order information to high frequency traders). They’ve always been a pretty iffy broker.
The reason they blew up in popularity was their low-fee/no-fee stock trading and their user-friendly app. Now no-fee trading is the industry standard, so the only advantage they have is a nice app. Their user interface is user-friendly, but their actual policies are not.
Some of us aren’t fucking NERDS and don’t keep up on all of that. Some of us are in it for the memes - and we suffer the consequences for it - but that doesn’t mean you gotta come in here and make it look EASY.
But several other brokers have done the same today. So while sure, RH lead the charge (probably under duress from their legal department telling them the SEC is going to fuck them up for daring to discredit the hegemony), they were not alone. It still supports the narrative I’m arguing for here whether RH was garbo from the get go or not.
