The Financial Industry Regulatory Authority has fined the commission-free stock trading app Robinhood $70 million, including $12.6 million in restitution to thousands of its customers, the regulator announced Wednesday. The fine represents FINRA’s largest-ever and is meant to reflect “the scope and seriousness of Robinhood’s violations,” Jessica Hopper, head of FINRA’s department of...
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DoorDash Should Buy Instacart Now
Instacart’s stock price performance so far brings to mind a variation on the old line about love: Is it better to have gone public and lost, or never to have gone public at all? The shares fell 9% on Monday to $26.96, 10% below its IPO price, following our scoop that the Wall Street analysts at the banks underwriting the offering are projecting a severe slowdown in Instacart’s growth in the...
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