- Robinhood launched its Super Bowl ad for the commission-free buying and selling app that grew to become a pariah throughout final week’s GameStop (GME) buying and selling frenzy.
- The business delivers the identical message Robinhood has at all times proposed, that anyone anyplace can commerce something they want.
- Ironically, Robinhood put restrictions in place on GME and different shares final week, stopping many individuals from buying and selling the one shares they wished to commerce.
Robinhood is on the heart of an epic inventory market-related scandal that features everybody’s favourite “stonk” proper now. The firm, which has an enormous IPO deliberate, was the weapon of alternative for a lot of retail traders till final week when the whole lot modified. In a transfer that appeared to be opposite to its mantra of creating buying and selling obtainable to everybody and to its title, Robinhood discovered itself serving to the wealthy. That’s how 1000’s of retail traders noticed it when Robinhood slapped buying and selling restrictions on GameStop and different shares final week, prompting calls from congressional hearings, class motion fits, and common mockery on Reddit.
Robinhood on Wednesday launched its Super Bowl ad on-line, a significant promoting marketing campaign that might have completely labored if Robinhood hadn’t determined to blatantly disregard its own messaging, which is on the core of the brand new business.
Today’s Top Deal Purell continues to be so exhausting to discover in shops – however there are deep reductions at Amazon! List Price:$75.60 Price:$51.90 ($0.54 / Fl Oz) You Save:$23.70 (31%) Available from Amazon, BGR could obtain a fee Available from Amazon BGR could obtain a fee
Retail traders have been at conflict with Wall Street over a number of shares, though it’s GameStop that noticed many of the motion. Inspired primarily by a preferred Reddit group, retail traders have been shopping for up GameStop shares up to now few weeks, rallying GME towards quick strain from hedge funds. The worth rose dramatically because the inventory was oversold, and this brought about unbelievable demand. For some Redditors, it was all private, with many asking consumers to maintain the inventory in order that Wall Street would endure extra losses.
The Robinhood app that’s obtainable on iPhone and Android permits anybody to commerce inventory commission-free, and it turned out to be the weapon of alternative for a lot of retail traders wanting to make the most of the state of affairs and/or combat Wall Street at its own recreation.
In the GME frenzy that adopted, Robinhood discovered itself in a precarious place that compelled it to take drastic measures. In the method, it appeared as if the corporate was colluding with Wall Street to cease retail traders from shopping for inventory. Robinhood restricted customers’ potential to purchase GME and different inventory, although traders have been nonetheless allowed to promote. Robinhood by no means absolutely defined what made it implement these restrictions, and lots of speculated that its own traders have been pressuring the corporate. It turned out that Robinhood was going through an imminent monetary collapse, in accordance to reviews that mentioned the corporate had to elevate greater than $1 billion on quick discover final week from banks and its own traders.
Facing huge strain from politicians, celebrities, and its own clients, Robinhood reenabled GME buying and selling on Friday, however strict limits have been nonetheless in place. Many individuals criticized the corporate on-line, with 1000’s of customers leaving destructive critiques on the Google Play retailer. Google reportedly eliminated round 100,000 1-star critiques, however they returned quickly after.
This brings us to Wednesday’s launch of Robinhood’s new Super Bowl ad. The business is titled “We are all investors” and was seemingly finalized earlier than final week’s scandal. The 30-second ad is precisely what you count on from the corporate. A message that anybody, anyplace, can commerce something. And Robinhood is there to make it work. Here’s the outline Robinhood posted for the video:
The world of finance is altering—and we’re staying true to our mission. We’re on this for the early morning jogger. The noon research breaker. The late-night nursery rhymer. Because you already put money into your self each day. We are all traders.
The irony is that no one might purchase GME and different inventory final Thursday, irrespective of the place they have been. Trading was nonetheless crippled on Friday because the share worth crashed, and it’s nonetheless crippled now.
Unsurprisingly, the video has the feedback disabled. But what’s considerably stunning is that the video doesn’t present counts for likes and dislikes. In the primary minutes after the clip was posted, it gathered over two thousand dislikes together with just a few hundred likes, however the counts have been now not displayed on the time of this writing. The backlash towards Robinhood continues to be very actual, and no quantity of Super Bowl advertisements will repair that.