Robinhood denies claims that it sold GameStop shares out from under its traders

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Trading Platform Robinhood Fined 65 Million By Securities And Exchange Commission
Photo Illustration by Justin Sullivan/Getty Images

No, Robinhood tells The Verge, it didn’t sell off full shares of GameStop, AMC, and other buzzy stocks without permission from its traders.

That contradicts the stories of twelve people who spoke with The Verge, saying that the app unexpectedly sold off their holdings in some of these companies. Quite a number of Robinhood users expressed their surprise on social media today that the app was selling off their stakes, and we tracked down a dozen of them. These traders didn’t believe they had prompted the sales, and they said they weren’t aware of anything on their account that would have automatically triggered them.

“I didn’t have any triggers to sell the stock whether it went up or down. I certainly wouldn’t have put it at $197 when...

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source https://www.theverge.com/2021/1/28/22254857/robinhood-gamestop-amc-shares-sold-surprised-users

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