![]() Monthly active users jumped by 6 million in the first three months of 2021 to 17.7 million from 11.7 million at the end of December, an increase of 51%. Many said they would stop using the app in protest, and Redditors on the investing thread Wall Street Bets called for legal action.ĭespite the blowback and ensuing regulatory scrutiny, Robinhood, which was launched in 2013 with the mission to " democratize finance for all," saw a huge jump in new users in the first quarter, according to its S-1 filing. Outraged traders flooded the app with one-star reviews on Google, lowering its user rating. Robinhood drew customers' ire when it halted the buying of GameStop and other meme stocks during a Reddit-fueled frenzy in January, only allowing users to sell.
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