Robinhood Made Nearly $700 Million By Selling User Data To Hedge Funds

Robinhood is facing backlash for appearing to aid institutional investors over individual traders after the popular investing app blocked users from purchasing shares in GameStop and other companies that experienced a price explosion in January.

GameStop’s share price rose to nearly $500 last week as retail investors drove up the price against hedge funds and other institutional investors. These investors had previously shorted 140% of GameStop’s existing shares on the assumption that the security would decrease in value.

GameStop’s share price rose to nearly $500 last week as retail investors drove up the price against hedge funds and other institutional investors. These investors had previously shorted 140% of GameStop’s existing shares on the assumption that the security would decrease in value.

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