The number of downloads of the Robinhood app increased markedly in January 2021. The platform with its commission-free trading is known to be "for the young and poor" and their trading halt caused a lot of anger among its users, who called it market manipulation and claimed the company was helping the hedge funds.ĭid the GameStop story affect the number of downloads? Robinhood was a key player in the GameStop story in January 2021, when they restricted the trading of GameStop stocks for a few days. The app’s net revenue did also grow steadily since its official launch, reaching 91 million U.S. The number of users of the app grew from half a million in 2014 up to 22.5 million in 2021. The number of users of the commission-free trading platform Robinhood grew steadily since 2014, even though it did not officially launch until mid-2015.
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