While stock trading app Robinhood’s users may be hesitant to trust the platform again after a series of recent outages, these investors seem to be putting their faith in the federal government amid this market downturn.
Robintrack, a service that keeps counts of how many Robinhood users own a particular stock, shows that its userbase has been loading up on stocks harshly affected by the outbreak.
Behind Ford, which gained about 125,000 Robinhood shareholders over the past month, American Airlines and Delta Airlines stock cracked the top four most popular stocks during that time. The companies are owned by a combined 170,000 Robinhood users that didn't own them a month ago.
The airline industry stands to benefit significantly from the coronavirus stimulus package that passed the Senate Wednesday and the U.S. House on Friday, with $50 billion in grants and loans allocated to help keep passenger airline companies afloat.
As for another company up in the air, Robinhood users jumped at the chance to purchase Boeing stock at a rare price of under $100 dollar a share. It was the eighth most popular new stock purchased over the past month.
As seen below, while stock prices for these companies began to fall, investor interest quickly filled the void.
Earlier Friday, Treasury Secretary Steve Mnuchin told Fox Business that there is no plan for Boeing to receive money from the federal government. Initially, there had been reports that Boeing had requested at least $60 billion in government aid. The Dow’s largest component fell more than 10 percent to end the week.
Cruise lines Carnival and Norwegian were the seventh and 10th most popular Robinhood stocks over the past month, respectively.
At last count Robinhood had more than 10 million accounts, but now the platform is tasked with re-establishing trust with its userbase. Three outages in March shook customer confidence in the service, as investors were forced to the sidelines on historic trading days.
Robinhood is now offering credit to some of those customers and says it fixed the engineering issues that led to the outages.
“An apology alone won't rebuild your trust in us,” the startup said in an email to some customers. “Instead, we hope our actions will."
A Michigan judge is putting sponges in the hands of shoplifters and ordering them to wash cars in a Walmart parking lot when spring weather arrives. Genesee County Judge Jeffrey Clothier hopes the unusual form of community service discourages people from stealing from Walmart. The judge also wants to reward shoppers with free car washes. Clothier says he began ordering “Walmart wash” sentences this week for shoplifting at the store in Grand Blanc Township. He believes 75 to 100 people eventually will be ordered to wash cars this spring. Clothier says he will be washing cars alongside them when the time comes.
The State Department had been in talks with Elon Musk’s Tesla company to buy armored electric vehicles, but the plans have been put on hold by the Trump administration after reports emerged about a potential $400 million purchase. A State Department spokesperson said the electric car company owned by Musk was the only one that expressed interest back in May 2024. The deal with Tesla was only in its planning phases but it was forecast to be the largest contract of the year. It shows how some of his wealth has come and was still expected to come from taxpayers.
At 100 years old, the Goodyear Blimp is an ageless star in the sky. The 246-foot-long airship will be in the background of the Daytona 500 — flying roughly 1,500 feet above Daytona International Speedway, actually — to celebrate its greatest anniversary tour. Even though remote camera technologies are improving regularly and changing the landscape of aerial footage, the blimp continues to carve out a niche. At Daytona, with the usual 40-car field racing around a 2½-mile superspeedway, views from the blimp aptly provide the scope of the event.
You'll just have to wait for interest rates (and prices) to go down. Plus, this deal's a steel, the big carmaker wedding is off, and bribery is back, baby!
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
William Falcon, CEO and Founder of Lightning AI, discusses the ongoing feud between Elon Musk and Sam Altman, and how everyday people can use AI in their lives.
U.S. tariffs on steel and aluminum “will not go unanswered,” European Union chief Ursula von der Leyen vowed on Tuesday, adding that they will trigger toug
