Robinhood Spikes After Report That SEC Folds On “Payment For Order Flow” Ban

Robinhood Spikes After Report That SEC Folds On “Payment For Order Flow” Ban

After concerns grew that Robinhood’s main source of revenue would come under increasing pressure, Fox News’ Charlie Gasparino has tweeted a ‘scoop’ that the SEC will punt on their decision (no doubt after Gensler got a tap on the shoulder from Ken Griffin at Citadel)…

SCOOP: In a huge win for @RobinhoodApp and a big setback for @GaryGensler & $AMC Apes, @FSCDems quietly shelves plans to ban Payment for Order Flow, opts to “study” the issue after $HOOD lobbies moderates on committee that PFOF has “democratized” trading more 345 pm @FoxBusiness

— Charles Gasparino (@CGasparino) August 13, 2021

That tweet sparked a panic bid in HOOD…

Just one thing to remember… this is Charlie Gasparino, so trade accordingly.

 

Tyler Durden
Fri, 08/13/2021 – 15:22

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