Robinhood is a stock-trading platform operated by a financial services company of the same name. Introduced in 2013 and marketed towards millennials and beginner retail investors, the Robinhood app and website reached significant recognition online following the 2020 market crash and has been a popular subject of memes and discussions in the investment community.
On April 18th, 2013, entrepreneurs Vladimir Tenev and Baiji Bhatt co-founded Robinhood Markets Inc, a U.S.-based financial services company. That year, the company launched its titular product Robinhood, a stock-trading platform accessed via website and mobile apps for iOS and Android (screenshots shown below).
Similar to other stock brockers, Robinhood allows its users to trade stocks, ETFs, options and other types of financial instruments. The service is available both through Robinhood’s website and its mobile apps.
Since launch, Robinhood offered zero comissions on stock and options trades. The advantage latet prompted other large stock brockers such as Charles Shwab, E*TRADE and TD Ameritrade to abolish comissions.
Robinhood has been a popular subject of memes and discussions in the investment community, particularly in its major meme subreddit /r/WallStreetBets and on Twitter (examples shown below). In many examples, memes revolve around Robinhood traders being unexperienced yet sometimes lucky out on their trades.
In late October 2019, Redditor /r/ControlTheNarrative discovered a loophole in Robinhood that allowed to increase his leverage indefinitely. After effectively raising his leverage 25:1, he bought Apple put options and lost nearly $45,000 in one day, posting a recording of himself watching his loss on /r/wallstreetbets. Upon seeing his major loss, /r/ControlTheNarrative uttered “Guh,” with the exclamation becoming a major meme in the /r/WallStreetBets subreddit.
Suicide of Alexander Kearns
On June 13th, 2020, Twitter user…
… Continue Reading at: knowyourmeme.com [source]