• Morgan Stanley defends M&A price tags - Tech salaries at payment giants - Robinhood's customer service woes

    8 days ago - By Business Insider

    Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease on the floor at the NYSE in New York
    Reuters
    Happy Friday! Bloomberg had a report on Thursday on nearly 2,000 customer accounts at Robinhood being comprised. The news comes after a previous report from Bloomberg regarding the hacks in which the $11.2 billion fintech downplayed the incident, saying it impacted "a limited number of customers." The story hits on a major theme impacting all consumer-facing fintechs: customer service. For a long time, many personal...
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  • Robinhood warns day traders to raise their cash buffers on 'widely-held stocks' hours before market open

    8 days ago - By Business Insider

    Baiju Bhatt, co-founder at Robinhood.
    Steve Jennings/Getty Images for TechCrunch
    Trading platform Robinhood warned day traders on Thursday night to raise their cash buffers on "several widely-held stocks" hours before market open, or they could face an account deficit. The trading platform said it would increase the minimum amount required to be held in user accounts from October 16 onwards to "help protect" customers from increased election volatility. "If you hold any of the affected stocks on margin, your buying power may decrease or your account may be in a deficit after these changes...
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