Negative reviews plunged the daggers on Robinhood! The action knocked down the ratings to a 1-star on the Playstore. 

Trading and financing app, Robinhood suffered a heavy loss with negative reviews in bulk on the Google Play App Store. The reinstatement was achieved last week when the Google supported the app in removing half of 2, 75, 000 ratings on app store after which the sufferer ratings went 4-star. However, the 4.2 ratings had 2,793,086 reviews.

According to the Google spokesperson, the current addition of reviews which were not present in last week's clearance will not get the pink-slip as per Google's policies. 

Know the root cause

The restriction imposed by the Robinhood on trading in several stocks including Gamestop and AMC when a group of Redditors /WallStreetBets attracted enormous retail investors who shifted to 

GameStop and other heavily shorted stocks caused a heavy loss to the app.

The decision was aimed to protect the firm and its customers according to Vlad Tenev, co-CEO at Robinhood. 

What's the take of Elon Musk?

On Sunday, Tesla CEO Elon Musk in a Clubhouse session inquired Tenev that why the platform laid down the restrictions on the trading to which Tenev answered that, "We had no choice in this case. We had to conform to our regulatory capital requirements." 

Musk tweeted, if something "shady went down there?" in support of WallStreetBets to which Tenev replied, "I wouldn’t impute shadiness to it or anything like that,” “The NSCC was reasonable subsequent to this." 

Tenev added that his firm was forced by the National Securities Clearing Corp to limit trades.

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