CEO of trading company “Robinhood” Vlad Tenev, defended the company’s decision to limit trading on some symbols following the rise in GameStop stock buying, saying they must “prudently manage the risk and the deposit requirements.”
CNN’s Chris Cuomo spoke with Vlad Tenev, CEO of the stock-trading app Robinhood, after the company barred traders from buying shares of GameStop promoted by WallStreetBets, a popular subreddit for investors.
He disputed “misinformation” allegations that he had been pressured to do so by anyone in government or Wall Street and “We absolutely did not do this at the direction of any market maker or hedge fund or anyone we route to or any other market participants,” he told CNBC before this interview. “The reason we did it is that Robinhood, as a brokerage firm, we have lots of financial requirements.”
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