
Vlad Tenev, the chief executive officer of Robinhood, said in an opinion piece on USA Today this week that the firm built the trading app to serve the millions of people left behind by the US financial system -- not hedge funds. The short-term curbs haven’t damaged the popularity of the no-fee app, founded in 2013. It was downloaded more than 600,000 times last Friday alone, according to research from SimilarWeb and JMP Securities LLC. GameStop has plummeted 89% since hitting a record intraday peak of US$483 ($644) last week, reducing its market value by about US$30 billion to US$3.7 billion. The stock is still up 184% this year.
