Robinhood News: HOOD Stock Dips as #CitadelScandal Trends on Twitter

Robinhood (NASDAQ:HOOD) stock is taking a beating on Thursday as investors react to the #CitadelScandal hashtag trending on Twitter (NYSE:TWTR).

Robinhood's mobile app logo is displayed on a smartphone screen representing HOOD Stock.

Source: OpturaDesign / Shutterstock.com

For those unaware, Robinhood and Citadel Securities are facing a lawsuit from investors over their alleged actions earlier this year. When the meme stock market was in full swing, a pause was put on trading certain high volatility stocks. Among those were GameStop (NYSE:GME) and AMC Entertainment (NYSE:AMC), two of retail traders’ favorites.

With news of the lawsuit spreading and more details being revealed, retail traders are raking the two over the coals online. That includes sharing excerpts from the lawsuit, as well as memes criticizing Robinhood and Citadel Securities.

Let’s take a look at what some retail traders on Twitter are saying under the #CitadelScandal hashtag.

#CitadelScandal Tweets Hitting Hood Stock on Thursday

So how is that news affecting HOOD stock today? The company is seeing trading volume much lower than normal. As of this writing, only about 2.5 million shares of the stock have changed hands. That’s nowhere close to the company’s daily average trading volume of about 21.9 million shares.

It’s also worth noting that HOOD stock is down 3.2% as of Thursday afternoon. However, the stock is still up 19.9% since going public at the end of July.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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