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Accounts Looted, Customers Watched Helplessly
Have a problem at Robinhood? Well, that’s too damn bad.
Robinhood might take 3 weeks to get back to you, even in cases of fraud in progress.
Please consider No One at Robinhood to Call
It took Soraya Bagheri a day to learn that 450 shares of Moderna Inc. had been liquidated in her Robinhood account and that $10,000 in withdrawals were pending. But after alerting the online brokerage to what she believed was a theft in progress, she received a frustrating email.
The firm wrote it would investigate and respond within “a few weeks.” Now her money is gone.
Pruthvi Rao, a Chicago software engineer, said his account was hit on Oct. 6. His bet on Netflix Inc. was liquidated and $2,850 was soon withdrawn. He said he’s sent more than a dozen emails to Robinhood’s customer support address, and that he even tried
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Popularity isn’t necessarily a good thing. There have been plenty of popular stocks in the past that eventually flamed out.
But popularity isn’t necessarily a bad thing, either. For example, quite a few of the 100 most popular stocks on the Robinhood trading platform appear to have very good growth prospects. Here are three on the list that could even realistically double within one year.
Image source: Getty Images.
Novavax (NASDAQ:NVAX) has gone way beyond doubling over the last 12 months. The biotech stock is up more than 2,000% thanks to good news for its influenza and coronavirus vaccine programs. It could very well deliver another 100% or greater return over the next year.
What would it take? For one thing, Novavax needs its COVID-19 vaccine candidate NVX-CoV2373 to succeed in late-stage clinical studies. The company has already kicked off a late-stage study of the vaccine in the
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A wild year of volatility for equities has brought investors of all sorts out of the woodwork. Although the ferocity of the first-quarter decline was a bit unnerving for all, it provided one heck of an opportunity for long-term investors to put their money to work in high-quality businesses.
The same can’t be said for short-term traders, or those chasing whatever happens to be this week’s or month’s hot stock on Wall Street. A quick glance at the investment activity by members of online investing app Robinhood confirms that some awful companies are being purchased.
Robinhood has been particularly successful at courting young and/or novice investors; the average age of its members is 31. Don’t get me wrong — it’s fantastic to see young people starting early and putting their money to work in the stock market. However, Robinhood is failing to provide the tools or education necessary for these
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The last few months have been terribly exciting for the technology sector. It is the most loved and the most hated at the same time.
Long-term players want to be long the sector but cannot justify adding to stocks when they are at nosebleed levels and are too scared to average in higher. Short-term players always try to short the sector, trying to call a top, but they risk getting burned as the momentum is just too strong and wipes them out. Because of the massive weighting of these stocks in the large-cap indices, what happens to them has huge bearing on what happens to the rest of the sectors and industries, and vice versa.
Back in August, the S&P 500 moved 8% higher on light volume and no new news about the economy or the recovery. It was a handful of stocks dragging the index higher, among them Amazon