Robinhood is mounting a counterattack at the SEC’s proposals, saying they would turn back the clock to the days before zero-commission trading
Robinhood was one of the most valuable startups in Silicon Valley before its IPO. But now, its share price is down more than 70%. WSJ’s Gunjan Banerji explains how Robinhood fueled a meme-stock craze and why it’s now struggling. Illustration: Preston JesseeRobinhood Markets Inc., facing a dire threat from a regulatory plan to overhaul the handling of small investors’ trades, is mounting a counterattack.
The popular brokerage says a set of proposals from the Securities and Exchange Commission would turn back the clock to the days before zero-commission trading, when investors had to pay fees for buying and selling stocks.
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