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Wolfpack Research founder Dan David discusses regulations on short selling and market transparency.
The Robinhood trading app, amid the trading frenzy of the past few days, has raised even more money as questions swirl about the capital liquidity issues that surfaced last week.
The company, in a blog post, said on Monday it had raised $ 3.4 billion, of which $ 1 billion was raised on Friday.
“This funding is a strong sign of investor confidence and will help us build for the future and continue to serve people through the exponential growth we have seen this year,” the company said.
SEC MONITORING GAMESTOP TRADING FRENZY
The final round was led by Ribbit Capital and also included ICONIQ, Andreessen Horowitz, Sequoia, Index Ventures and NEA.
THE CITADEL TIES THE BINDING OF ROBINHOOD
“Robinhood has served millions of people who have felt left behind by the US financial system,” Micky Malka, managing partner of Ribbit Capital said in the statement. “We are confident that Robinhood will emerge stronger through this phase of unprecedented growth and demand.”
Robinhood has been in the midst of a short selling frenzy led by Mom & Pop investors. The last goal on Monday, according to reports, is money. Muted metal hit an 8-year high.
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| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| SLV | ISHARES SILVER TRUST | 26.72 | +1.73 | + 6.93% |
| DBS | INVESCO DB MULTI SECTOR COMM TR SILVER FD ETF | 41.29 | +3.44 | + 9.10% |
This after the same group jumped into a basket of battered companies including GameStop, Bed Bath & Beyond, Blackberry, and AMC.
GAMESTOP FRENZY PROVES WALL ST. IS RIGGED SAYS SEN. WARREN
| Teleprinter | security | Latest | Change | % Change |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 243.65 | -83.86 | -25.60% |
| BB | BLACKBERRY LIMITED | 14.77 | +0.64 | + 4.53% |
| BBBY | BED BATH & BEYOND INC. | 29.83 | -5.50 | -15.57% |
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 14.37 | +1.03 | + 7.72% |
The short-selling craze has drawn the wrath of regulators including Sen. Elizabeth Warren (D-MA) and Sen. Chuck Schumer (D-NY), among others.
This story is developing.
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