Robinhood boss says GameStop episode ‘unacceptable’

Robinhood boss says GameStop episode ‘unacceptable’

The head of the Robinhood commerce platform has apologised to customers at a USA legislative assembly hearing prompted by last month’s GameStop commerce manic disorder.

Vlad Tenev aforesaid matters the firm moon-faced in January – once monetary strains light-emitting diode it to limit bound stock purchases – was “unacceptable to us”.

“We do everything we are able to to form positive this would possibly not happen once more,” he said.

Lawmakers aforesaid the move, that sparked outrage, had raised questions about fairness in monetary markets.

“Many Americans feel that the system is stacked against them and regardless of what, Wall Street continually wins,” aforesaid legislator Maxine Waters, World Health Organization heads the House monetary Services Committee holding the hearing.

Mr Tenev aforesaid the firm, that is well-liked among everyday investors, was forced to briefly limit trades in GameStop and a few different companies thanks to new monetary necessities it moon-faced as a result of the surge in commerce.


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