Investing

Robinhood Seeks to Quell User Revolt While Protecting Business

Startup eases trading restrictions to eight stocks from 50
Customers question motives of popular app amid market frenzy

Vlad Tenev, co-founder and chief executive officer of Robinhood Markets, says the firm restricted buying of certain stocks to protect its financial position and its customers. He speaks to Emily Chang on “BloombergDaybreak: Asia.” (Source: Bloomberg)

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By Annie Massa and Misyrlena Egkolfopoulou

February 1, 2021 at 3:35 PM UTC

This article is for subscribers only.

Robinhood Markets is finding it hard to make anyone happy.

The online brokerage pared back trading curbs imposed in the wake of a Reddit-fueled market frenzy, but as the tumult entered a second week, that hasn’t quelled customers’ suspicions of its motives. And with eyes across Wall Street on the firm after it raised fresh capital, the coming days will test whether the popular trading app is able to protect its users, trading partners and itself.