I guess they are sorry...
https://fortune.com/2020/06/22/robin...n-alex-kearns/
my Broker's page shows similar crap like Robinhood.. "buying power", and other hard-to-discern shit. every time a trade goes through it looks wacky. sometimes shows a negative cash balance, even though the cash has never dropped under $40,000 this year.
Originally Posted by Chung Tran
seems like this outfit has prior issues
https://en.wikipedia.org/wiki/Robinh...#Controversies
Controversies
Payment for order flow
Bloomberg News reported in October 2018 that Robinhood had received almost half of its revenue from
payment for order flow.
[49] The company later confirmed this on its corporate website when asked by
CNBC.
[50] The Wall Street Journal found that Robinhood "appears to be taking more cash for orders than rivals," by up to a 60-to-1 ratio, according to its regulatory filings.
[51]
FINRA fined Robinhood $1.25M in December 2019 for failing to ensure that its customers received the best price for orders. All of Robinhood's trades between October 2016 and November 2017 were routed to companies that paid for order flow, and the company did not consider the price improvement which may have been obtained through other market makers.
[52]
Security breach
In July 2019, Robinhood admitted to storing customer passwords in cleartext and in readable form across their internal systems, according to emails it sent to the affected customers. Robinhood declined to say how many customers were affected by the error and claims that it did not find any evidence of abuse.
[53]
Infinite leverage
In November 2019,
WallStreetBets subreddit shared a Robinhood money glitch that allowed Robinhood Gold users to borrow unlimited funds. The loophole was closed shortly thereafter and the accounts that exploited it were suspended, but not before some accounts recorded six figure losses by using what WallStreetBets users dubbed the "infinite money cheat code."
[54][55][56]
Outages
On Monday, March 2, 2020, Robinhood suffered a systemwide, all-day outage during the largest daily point gain in the Dow Jones' history, preventing users from performing most actions on the platform, including opening and closing positions.
[57] During this outage the S&P 500 climbed more than 4.6%.
[58] Robinhood users postulated that the outage was the result of a
coding error regarding leap year handling for Sunday, February 29, 2020. Robinhood denied these claims.
[59] Robinhood said that they will offer compensation on a case by case basis.
[60] Robinhood experienced another major systemwide outage on March 9th.
[61] Robinhood is currently facing three lawsuits due to outages in March 2020.
[62]