The World Wide Robin Hood Society is an institute that promotes the legendary hero from Nottinghamshire who ‘stole from the rich to give to the poor.’ Robinhood is a US stock trading app.
These two things, despite sharing a name, are not the same.
After the US stock market experienced one of its weirdest weeks ever when amateur investors on Reddit managed to significantly boost the stocks of brands such as GameStop and AMC through apps such as Robinhood, those wishing to get in on the action attempt to find out more about how to actually make money.
The problem is that is it would appear that some folks who were hoping to give trading ago might have completely misunderstood where exactly they should be doing the actual trading.
A tweet posted by the Worldwide Robin Hood Society on Thursday, acknowledged that they had seen a huge uptake in new followers of their account, with reportedly more than 30,000 people who probably wanted to trade stocks instead started to learn things about ‘men in tights’ and ‘Sherwood Forest.’
Lovely to have all these new followers .. can we just check that you know that you’re following The World Wide Robi… https://t.co/AWEDjoDFBK
Speaking to Newsweek, Lisa Douglas, who runs the Robin Hood social media account said, “[The attention is] wonderful but quite overwhelming. We are a small organization in Nottingham with, until yesterday, 350 followers and now it's at nearly 40,000. It's been amazing to see the support Robin Hood receives from across the world.”
However, she did admit that there have been a few unpleasant messages from disgruntled people trying to use the Robinhood app who came under fire this week after it halted trading and stopped people from buying GameStop shares. This has prompted investors to bring forward a class-action lawsuit against the firm with Congresswoman Ilhan Omar calling for billionaires who pressured for the app to be closed to go to jail.