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Summary Robinhood Uriostegui English II .docx EH 1020 Robinhood Has Changed the Stock Market Columbia Southern University EH 1020/ ENGLISH II Robinhood Has Changed the Stock Market When Robinhood launched its trading platform in 2015, its purpose wa
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Robinhood Uriostegui English II .docx EH 1020 Robinhood Has Changed the Stock Market Columbia Southern University EH 1020/ ENGLISH II Robinhood Has Changed the Stock Market When Robinhood launched its trading platform in 2015, its purpose was to democratize finance for all. For decade...
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EH 1020
Robinhood Has Changed the Stock Market
Columbia Southern University
EH 1020/ ENGLISH II
Robinhood Has Changed the Stock Market
When Robinhood launched its trading platform in 2015, its purpose was to democratize
finance for all. For decades, investing in the stock market was exclusively for the wealthy.
Before Robinhood, people that wanted to purchase stocks would be charged between $5 to $10
per transition. Brokerages would also require a minimum of $500 to open an account (Curry,
2021). Vlad Tenev, and Baiju Bhatt, the CEOs of Robinhood, believe the financial system should
be built to work for everyone, which is why they designed a trading platform that lets people
invest at their own pace and on their own terms (Robinhood, n.d.). Robinhood is one of the first
brokerage companies that designed a trading platform with key features that have attracted many
new investors. It features zero-commission trading, no account minimum, and a subscription-
based margin service, all on one user-friendly and trendy application. In 2020, Robinhood had an
estimated 13 million users (Curry, 2021). Its popularity has changed the stock market.
The Controversy
With Robinhood’s continuous growth, many new investors are being drawn into the stock
market. In early 2020, Robinhood added 3 million new accounts in the first four months of the
year, and about half of those accounts were first-time investors (Gaviola, 2020). A large portion
of Robinhood users are young investors with little experience in the stock market. The median
age of Robinhood users 28, which implies the application is creating a new generation of traders.
In an interview on the investment show “Mad Money”, Tenev states that “People investing for
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