How a Trading Error Cost Robinhood $57 Million

Discussion in 'Wall St. News' started by ETJ, Feb 8, 2023.

  1. ETJ

    ETJ

  2. Roark

    Roark

    I de-paywalled it for you, using archive.today, see https://archive.ph/EVhQQ

    Robinhood lost $57 million because of a mistake processing shares in a tiny healthcare company in December, an error that cost the broker about 7 cents per share in the fourth quarter. That single mistake, which the company says it corrected quickly, was the difference between Robinhood beating and missing earnings expectations. Robinhood posted a 19-cent loss in the quarter, versus expectations for a 15-cent loss....
     
    IntergalacticSpace, jys78 and zdreg like this.
  3. ahh the good ole overlooked corporate action , funny stuff
     
  4. Pekelo

    Pekelo

    TIL Robinhood is bad at math...

    19-15 =/= 7
     
  5. zdreg

    zdreg

    Thanks. Could you please list each step for de-paywalling the article.
     
  6. Roark

    Roark

    Go to https://archive.ph/ and paste in the URL of the pay-walled article. You can also go to archive.today
     
  7. zdreg

    zdreg

    It works now. I had internet transmission issues yesterday. Here is my tip. It is necessary to disconnect modem every 55days and then reconnect to refresh signal.