Robbing the poor and helping the rich by Robin Hood

[Ta Kung Pao] according to Reuters and CNN, retail investors in the United States are fighting against Wall Street, making online stock trading software “Robin Hood” a hot topic. &”Robin Hood” is a platform for retail investors to gather. However, on Thursday, it restricted retail investors from trading stocks, causing public anger, accusing these trading platforms of trying to protect the interests of Wall Street at the expense of small investors.

The occupy Wall Street movement in 2011 inspired the founders of “Robin Hood” and “Bart” who worked in New York at that time to come up with the idea of reducing investment costs and turning investment into an investment field accessible to people, so as to realize the so-called “democratization of the financial industry”;. The two later resigned to start a business. In 2015, the online trading platform “Robin Hood” was launched, attracting a large number of millennial young users through the zero handling charge mode. The company’s zero Commission mode of buying U.S. stocks has also changed the business model of online trading platform, allowing rivals to follow. Bart, the founder of Robin Hood, once said, “we didn’t create Robin Hood to make the rich richer, but to help everyone, that is, everyone else (except the rich) & quot;.

Looking at the situation that young retail investors don’t have much money, & lt; Robin Hood & gt; launched a new function of fractional share the year before last, which allows users to invest as low as one dollar, that is, you can buy one dollar worth of Amazon stock. Science and technology net stocks such as Amazon, apple, Google, etc. often cost thousands or hundreds of dollars, so new features are popular with young investors. “Robin Hood”, a unicorn company, originally planned to enter the IPO market this year, with an estimated market value of US $11.2 billion (about HK $87.3 billion) in August last year.

At the end of last year, the number of users has exceeded 10 million. This time, retail investors beat Wall Street tycoons to the ground and let the outside world fully realize the strength of users behind “Robin Hood”. However, after & lt; Robin Hood & gt; banned retail investors from trading in gametop and AMC on the same day, retail investors scolded & lt; Robin Hood & gt; for forgetting their roots and helped Wall Street instead. &”In ancient times, Robin Hood robbed the rich and helped the poor. Today, Robin Hood application software robbed the poor and helped the rich. &”Chervinsky, a lawyer for fintech, tweeted.

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