Jim Cramer Says Robinhood Needs to Earn Consumer Trust Back

Author:
Publish date:
Video Rating:
TV-G
Video Duration:
1:16

Jim Cramer weighs in on how Robinhood can earn back trust, which it has largely lost following its decision to halt investing in GameStop. 

"We started Robinhood with the goal of opening America’s financial system to everyone. We’re committed to our mission to democratize finance for all, and to celebrate the ways that we all make investments in ourselves every day. That moves us all forward," the company wrote in a blog post on Feb. 3. 

"Last week we saw the impact the two-day trade settlement period has on investors and ultimately the entire American financial system. Clearinghouse deposit requirements skyrocketed overnight. People were unable to buy some of the securities they wanted. Investors were angry and concerned, an unintended byproduct of the antiquated settlement process," Robinhood CEO Vlad Tenev wrote on Feb. 2. 

So, with all of this, what's next for Robinhood? 

Recap TheStreet Live: Everything Jim Cramer Is Watching Friday

Related Videos