Robinhood (NASDAQ: HOOD), a digital trading platform based in Menlo Park, California, gained immense popularity among millennials and Gen Z investors in recent years. During the peak of the COVID-19 pandemic, Robinhood Markets saw an influx of attention, as its commission-free platform allowed traders to seamlessly and inexpensively buy stocks and options in highly popular names. A surge in the buying and selling of so-called "meme stocks" resulted, with many experts citing the rise of retail investors via platforms like Robinhood as one of the determining factors behind a number of high-profile short squeezes seen last year.
Don't expect Apple to can people en masse like some of its rivals, says Wedbush analyst Dan Ives.
Hackers used the social media accounts of online stock and crypto broker Robinhood to promote a scam token on Wednesday. Fraudsters used a now-deleted post to promote a supposedly new Robinhood token. According to Decrypt, the hackers made off with around $8,000 worth of Binance Coin (BNB) tokens.