One of the hottest and most anticipated IPOs of the past few years was $0 commission broker Robinhood (HOOD), which surely must have the most cruelly cynical name in corporate history. Let’s just say their outing as a publicly-tradeable financial instrument has been less than stellar.
As Zerohedge has been reporting, now that the SEC is aiming to level the playing field by preventing organizations from selling information about retail trades to hedge funds (AKA front-running) it basically negates their business model utterly. It would be like the government banning the discussion of financial charts. I’d be instantly out of business.
Perhaps you’re concerned that the venture capitalists and insiders have suffered from this nearly 90% in the value of the company. Fear not, my friend. They got the hell OUT of this piece of dog shit, so they are A-OK. Phew!
Oh, and let me bow our heads in reverence, once more, at the omnipotence of Jim Cramer, whose praise for any individual or organization should be absolutely feared, if the recipient has any sense at all.
