FOLLOW US

Business February 3, 2021 3 mins read

Robinhood down to 1 star on Play Store, eases GME trading

Business ı By Rochdi Rais

0 Comments

Robinhood App Interface

Robinhood has had a tough week after it restricted trading in GameStop (NASDAQ: GME) amid high volatile times. The online brokerage restricted trading in GME, AMC & other soaring stocks, and traders were furious in return. However, after GameStop plunged 40% on Tuesday, Robinhood eased trading in the stock again.

Robinhood — famous for $0 commission trades and a combination of free shares, caught the attention of both amateur and professional traders. Consequently, the company gained success quickly and is aiming to go public in 2021. However, the company might be ahead of hard times.

On Tuesday, Robinhood allowed traders to buy up to 100 shares of GameStop again. The company had a limit of 20 stocks last week when the stock was leading a 1,500% increase. Nevertheless, Redditers described the move as “too late”. GME price lost 73%, and the short-squeeze effect faded — making investing in the stock less profitable.

Moreover, Robinhood allowed trading in the previously restricted stocks. Clients are now allowed to buy up to 1,250 shares of AMC Entertainment. Shares of AMC dropped 41% on Tuesday. Additionally, the limit of Express shares is now 3,000 and 12,000 shares for Naked Brand Group.

As of this writing, Robinhood secured $3 billion in funding. The company claims that they will use the money to fund trading.

Robinhood denied favoring hedge funds

Meanwhile, Robinhood replied in an email it sent to its customers on Monday: "We had to take steps to limit buying in those volatile stocks to ensure we could comfortably meet our deposit obligations. We didn’t want to stop people from buying stocks and we certainly weren’t trying to help hedge funds."

However, Robinhood has put itself in a very tough situation. The company might be facing charges from The Securities and Exchange Commission, and traders are leaving the platform. Even worse, thousands of the platform’s users filed lawsuits against the company.

Furthermore, users of Robinhood launched a second 1-star rating campaign on both Google Play Store and Apple’s App Store. Angry traders alleged Robinhood of disadvantaging them in favor of hedge funds.

Richest men in the world and CEO of Tesla (NASDAQ: TSLA) Elon Musk chatted with Robinhood’s CEO Vladimir Tenev regarding the restrictions imposed on the GME stock. Musk asked Tenev whether the restrictions are in favor of hedge funds. Additionally, Musk described Robinhood’s actions as “shady”.

Traders launch a second 1-star rating campaign

Last week, traders launched a one-star campaign on Google Play Store and Apple Store. Robinhood’s rating went from four stars to one star out of five in 2 days period. However, Google removed the negative reviews.

Google published a statement  and said that the bad reviews were not compliant with Google’s policies. The search giant described the reviews as “coordinated or inorganic reviews.”

However, this time might be different. As of this writing, Robinhood has a 1 out of 5 rating from more than 310,000 reviews on Google Play Store. The bad rating campaign followed Robinhood’s restrictions on trading in GME and AMC. And according to The Verge, this time Google won’t remove the reviews because they aren’t against Google’s policies.

Dave Portnoy, founder of Barstool Sports told Fox News in an interview: "Ironically Robin Hood took from the rich and gave to the poor, even though they do the exact opposite. I was stunned, I think it's criminal. There has to be an investigation and people have to go to jail."

Previous Article

Schumer Celebrates As Democrats Take Complete Control

Read More
2772 Posts

Rochdi Rais

Rochdi Rais is the Head of Growth and financial and legal writer at USA Herald. He has been writing and editing financial, legal and U.S. news for years with over +4000 articles published during his career.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
America September 20, 2026
Saquon Barkley Injury Sidelines Eagles Star After Brutal First Carry
By – Tyler Brooks
Opinion September 19, 2026
Trump’s Press Ban Puts His Ego Above Your Rights
By – Michallie Harrison
America September 19, 2026
Iranian Government Holds Rally as War With U.S. and Israel Continues
By – Jackie Allen
America September 19, 2026
Texas Shuts Down Houston-Area ‘Birth Tourism’…

Key Takeaways Texas Attorney General Ken Paxton announced that De’Ai…

By – Samuel Lopez
America September 19, 2026
Acquitted Michigan Brothers Sue FBI Agents…

Factual Background Michael and William Null, acquitted in 2023 of…

By – Samuel Lopez
America September 19, 2026
Businesses Face Rising ADA Lawsuits Over…

Key Takeaways Website-accessibility litigation is surging, with 432 new digital…

By – Samuel Lopez
America September 19, 2026
Maurene Comey Wants Her Job Back…

Key Takeaways Maurene Comey is challenging DOJ’s argument that Assistant…

By – Samuel Lopez
America September 19, 2026
Agreement Entered Into With Denmark And…

Key Takeaways The Trump administration announced a new Greenland agreement…

By – Samuel Lopez
America September 18, 2026
DC Productions Narrow as HBO Chief…

DC Productions are entering a more selective phase, according to…

By – Jackie Allen
America September 18, 2026
DC Productions Narrow as HBO Chief…

DC Productions are entering a more selective phase, according to…

By – Jackie Allen
America September 18, 2026
Princess Diana Wanted to End Engagement…

Princess Diana wanted to call off her engagement to then-Prince…

By – Jackie Allen
America September 18, 2026
Pentagon Drops 6th Tranche of UAP…

Key Takeaways Among the most extraordinary documents in the Pentagon’s…

By – Samuel Lopez
America September 18, 2026
Pentagon Recognized Religions List Sparks Debate…

A revised Pentagon list of recognized religions in the U.S.…

By – Jackie Allen
America September 18, 2026
Diddy’s Lawyers Seek To Exit $100…

Key Takeaways Attorneys representing Sean “Diddy” Combs have asked a…

By – Samuel Lopez
America September 18, 2026
Nicki Minaj Fights Personal Liability In…

NEW YORK — Nicki Minaj is fighting to remove herself…

By – Samuel Lopez
America September 18, 2026
Uber Ordered to Pay $40 Million…

Uber has been ordered to pay $40 million to the…

By – Jackie Allen
America September 17, 2026
DEA Investigation Into Hayden Panettiere Death…

A DEA Investigation into the death of actress Hayden Panettiere…

By – Jackie Allen
America September 17, 2026
Tyler Perry Plans Puerto Rico Move…

Key Takeaways Tyler Perry says he plans to move to…

By – Samuel Lopez
America September 17, 2026
Blueface Livestream Drama Raises Family Court…

Key Takeaways Repeated livestreams involving Blueface and Nevaeh Akira have…

By – Samuel Lopez
America September 16, 2026
Pentagon Admits Space Weapons Are Already…

Key Takeaways The U.S. has confirmed for the first time…

By – Samuel Lopez
And More September 14, 2026
Sydney Sweeney and Scooter Braun Celebrate…

Sydney Sweeney celebrated her 29th birthday with a public declaration…

By – Jackie Allen
America September 17, 2026
New Balance Sues Decathlon Over Kiprun…

Key Takeaways New Balance claims Decathlon’s mirrored Kiprun “K” logo…

By – Samuel Lopez
America September 17, 2026
OpenAI $1.2T Valuation Talk Headlines Week…

Numbers this large tend to blur into abstraction — until…

By – Tyler Brooks
Breaking News September 17, 2026
Fed Rate Hike Adds to Americans’…

WASHINGTON — A Fed rate hike is adding to Americans’…

By – Michallie Harrison
America September 17, 2026
AI Safety Debate Turns to Synthetic…

Key Takeaways OpenAI’s Hugging Face breach has intensified questions over…

By – Samuel Lopez
America September 17, 2026
America’s Golden Dome Pushes U.S. Missile…

Key Facts The Space Force is developing low-Earth-orbit interceptors intended…

By – Samuel Lopez
America September 17, 2026
State Farm and Allstate File Plans…

Key Takeaways State Farm is proposing a limited return centered…

By – Samuel Lopez
America September 15, 2026
Massachusetts AG Joins 21-State Coalition Suing…

Key Takeaways Massachusetts Attorney General Andrea Campbell has joined attorneys…

By – Samuel Lopez
America September 14, 2026
TMZ Ties Itself to the Hayden…

Key Takeaways TMZ is reporting that law enforcement sources believe…

By – Samuel Lopez
America September 13, 2026
Bayer’s $7.25 Billion Roundup Settlement Faces…

Key Takeaways Bayer’s Monsanto unit will ask a Missouri judge…

By – Samuel Lopez
America September 13, 2026
Tylenol Maker and Pharmacy Chains Ask…

By Samuel López | USA Herald Tylenol maker Kenvue and…

By – Samuel Lopez
America September 13, 2026
Lawyers Are Getting Burned by AI…

Key Takeaways Courts across the country have been sanctioning lawyers…

By – Samuel Lopez
America September 10, 2026
41% of Lawyers Say Legal Careers…

Key Takeaways More than 41% of surveyed lawyers say the…

By – Samuel Lopez
And More September 14, 2026
Sydney Sweeney and Scooter Braun Celebrate…

Sydney Sweeney celebrated her 29th birthday with a public declaration…

By – Jackie Allen
America September 13, 2026
Serena Williams’ Daughters Make History as…

Serena Williams has built one of the most decorated careers…

By – Jackie Allen
America September 13, 2026
KJ Biermann Faces Seven Felony Charges…

KJ Biermann, the 15-year-old son of “Real Housewives of Atlanta”…

By – Jackie Allen
America September 13, 2026
Team USA Reaches Women’s Basketball World…

BERLIN — Team USA advanced to the FIBA Women’s Basketball…

By – Jackie Allen
America September 11, 2026
Bears and RB Swift $33.75M Extension…

Sometimes the best deals get done before the clock even…

By – Tyler Brooks
America September 11, 2026
Skywatchers: Moonshadow Creates Dramatic Blood Moon…

A Moonshadow transformed the night sky Aug. 27 as the…

By – Jackie Allen

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter