A lot of people got angry at Robinhood for restricting trade lately. One investor, unsatisfied with complaining on Twitter, went a step further.
Unable to keep making money on the platform, the man hired a pilot to fly over the company's headquarters. The plane circled over San Francisco with a classy sign that read "Suck My Nuts Robinhood."
Trading Restrictions On Over 50 Stocks
The joke was a response to Robinhood restricting trade of over 50 stocks. These include the infamous GameStop stocks, but also Starbucks, Blackberry, AMC, and General Motors.
Robinhood, the investing app at the center of the GameStop stock saga, claims they do not have enough cash. In fact, regulations require a certain amount of money reserves to sell stocks.
When Reddit posters made GameStop shares spike, Robinhood's resources were stretched to the limit. Therefore, the company revealed that they had to limit the purchase of stocks.
People Are Not Impressed
This one guy surely did not take the news too well. So much so that he paid to fly the banner over San Francisco to show his discontent.
Even if he does not live in San Fran himself, he shared the flight path on Twitter for people to enjoy the show. He definitely provided residents with a few hours of entertainment.
An Unstoppable Wave Of Outrage
Although no one went as far, many others are enraged at Robinhood and accuse the app of playing foul. In fact, a group filed a lawsuit calling for class-action against the company.
From left-wing Democrat Alexandria Ocasio-Cortez to Republican senator Ted Cruz, politicians of all sides criticized the platform. In the meantime, Reddit users accuse Robinhood to favor hedge funds against small investors.
While created to democratize investments and make them more accessible, it seems like Robinhood's popularity is declining. With a name like that, no one would have expected them to side with the rich...