Robinhood app forced to raise $4.5 billion after it stopped trading on GameStop stock – NEWS.com.au

Its a trading app for amateurs, but when Robinhood pulled the plug on its users buying or selling GameStop shares last week, the controversial decision made loads of people mad, despite the trading frenzy causing a huge strain on the companys finances.Robinhood revealed it had been forced to raise $US2.4 billion ($A3.1 billion) from shareholders at the start of February, on top of the $US1 billion ($A1.3 billion) it pumped into the fund last week, as investors scrambled to snap up stock from companies…

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