Robinhood is fielding lots of controversy this week and it doesn’t appear to be stopping anytime soon. According to Motley Fool, Robinhood has been once again raising funds despite the fact that they’ve suspended even more trades on certain securities and stocks. That fact isn’t sitting well with some considering Robinhood claims that the reason why stocks were blocked was because they were running out of cash.
So, why are they still blocked?
Americans might not know but Congress soon will. In about two weeks, Robinhood ‘s executives have been summoned to the Capitol to discuss their moves and whether or not they were legal. House Democrats and other leaders reportedly made the subpoena this week amid reports and partially tangible claims that Robinhood appears to be in bed with Wall Street.
Just last week the firm claimed that they were not struggling for cash but had quietly tapped billions in available credit lines. Now they’ve tapped even more as many users are either leaving the site all together or preparing to boycott Robinhood.