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Robinhood CEO admits company did not respond perfectly to GameStop trading mania
Robinhood CEO Vlad Tenev apologized at a House hearing Thursday for the confusion that resulted from his platform's decision to restrict trading of certain "meme stocks," while admitting he did not handle the situation perfectly. Why it matters: The wild stretch of Reddit-fueled trading last month has resulted in intense scrutiny of the power of platforms like Robinhood, short-selling hedge funds and the stock market's plumbing. "Look, I'm sorry for what happened. I apologize, and I'm not going to say that Robinhood did everything perfect ... Robinhood as an organization will learn from this, and improve, to ... (full story)