Robinhood CEO Vlad Tenev isn't scared of meme stocks [Yahoo! Finance]
GameStop Corporation (GME)
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Source: Yahoo! Finance
Three years earlier, the Reddit influencer had helped sparked a meme stocks craze among retail investors that led to the GameStop stock short squeeze. The surge in stock price was a disaster for online brokerage platform Robinhood: The company halted the trading of GameStop and other stocks in January 2021 for a day and then only let consumers close out trades on the stock, barring them from placing new ones. Robinhood and its cofounder and CEO, Vlad Tenev, faced accusations of market manipulation by angry retail investors. Roaring Kitty, meanwhile, went quiet and stopped posting. Most Read from Fast Company Now he's back, and he's taken a huge stake in GameStop once again. But Tenev isn't worried. The company, he says, is in a different place. For one, it's now publicly traded. After its July 2021 IPO, it's seen steady growth. In 2023, it hit a record $1.9 billion in revenue, up 37% from 2023, and total net revenues increased 40% year-over-year in Q2 2024. Tenev has been on a m
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