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Why AMC Entertainment Is Rising Today
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Citadel Securities issues response to #KenGriffinLied Twitter trend
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Citadel Tweets For First Time In 9 Month To Deny Claims CEO Griffin Lied To Congress
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Cartoon by Pat Byrnes
By that spring, Alex Kearns, a twenty-year-old student at the University of Nebraska, had been using Robinhood for about two years. The app had permitted him to trade options just months after he opened his account. Kearns grew up in Naperville, Illinois, with his sister and his parents. His father is an I.T. professional at a financial-services firm. The family was close. Kearns was known as an anxious but positive young man who played trombone in the high-school band, received a school-spirit award, and joined the R.O.T.C. at Nebraska, where he majored in business management. Kearnsâs cousin-in-law Bill Brewster, a professional investor, told me that heâd spoken with Kearns that March. âHe was happier than Iâve ever seen him,â Brewster said.
How the GameStop frenzy sabotaged a bid to ‘democratize’ finance POLITICO 2/17/2021 By Victoria Guida © Photo illustration by Justin Sullivan/Getty Images In this photo illustration, the Robinhood logo is displayed on an iPhone on December 17, 2020 in San Anselmo, California.
Democrats have long been conflicted over financial technology companies like online lenders, praising the flashy upstarts for their ability to help lower-income Americans build wealth yet wary of the risks they pose to unsuspecting consumers.
But the episode with Robinhood Financial where armies of small investors used the internet brokerage’s app to pump up GameStop s stock until Robinhood halted their purchases has unearthed a growing sentiment on the left: “Fintech” is just a fancy word for everything they already hate about finance.