Robinhood rolls out Super Bowl ad amid GameStop saga
Robinhood faced a backlash from customers and lawmakers after it restricted trading on certain stocks last week
Jaime Rogozinski, who created Reddit’s WallStreetBets, argues 'the Pandora's box is open' and 'there's no going back at this point.'
Robinhood will air its first Super Bowl commercial during the Big Game on Sunday despite the recent GameStop fiasco as it looks to market its brand as a platform where anyone can invest.
Robinhood faced backlash after it suddenly restricted the buying of shares of GameStop and other companies that were the target of a short squeeze, sparking outrage from the social media crowd and politicians alike. Robinhood said it acted to meet regulatory capital requirements.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 26.57 | -0.79 | -2.89% |
| AMC | AMC ENTERTAINMENT | 4.48 | -0.09 | -1.97% |
| BBBY | NO DATA AVAILABLE | - | - | - |
Amid the chaos, the online brokerage is rolling out a Super Bowl ad to push its message that anyone can invest. CBS initially pegged the cost of a 30-second spot at $5.6 million, according to Sporting News.
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“We make short-term investments, long-term investments, we diversify our interests, realize our gains and losses, and try to keep the big picture in mind,” the narrator in the 30-second ad says. “You don’t need to become an investor, you were born one.”
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The ad does not address the current controversy swirling around the company.
The Associated Press contributed to this report.