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They are the #1 app because people were interested in trading GME, and the network effect led to lots of recommendations to download robinhood. Now there is a v
by indecisive_user 6y ago
They are the #1 app because people were interested in trading GME, and the network effect led to lots of recommendations to download robinhood. Now there is a very negative sentiment towards robinhood. Very few people online will recommend it.
Worth noting that Webull, a robinhood competitor, is the #2 app in the play store. They initially restricted stocks but later allowed people to freely buy and sell.
- matttb 6y agoAnd I think more importantly, Webull said from the beginning what the issue was and communicated their efforts to fix it. Robinhood put up a blogpost that made it sound like everything was their choice and then went completely silent the entire day.