Robinhood is cutting confetti From its stock trading app, following allegations that animation helped “Gameify” invest. Instead, the company is adding new animations that will celebrate trading milestones more brilliantly for users.
The famous digital confetti showers have been a controversial part of Robinhood’s app since 2016. In the past, Robinhood has argued that friendly features “help people easily fit into their lives.” But other – Including the Massachusetts Securities Division – have argued that confetti (along with other features, like free stock promotions) help “trade” for amateur investors who don’t understand what they are doing.
Madhu Muthukumar, senior director of product management at Robinhood, says, “I think confetti is really going wrong, and I think it’s really doing the opposite of what we want.” Commented to Wall Street Journal. It seems to have deviated from the goal of the app, which regular people have to do, everyday people who are excluded from the market feel they can participate and feel like they have to To take financial steps is being positively reinforced. life.”
Of course, Robinhood is still recovering from its participation in a recent wave of “meme stocks” that saw the company come under fire from users who were disappointed when it started restricting trades of popular stocks such as Gamestop and AMC. Gave, as if the R / WallStreetBets subreddit to Reddit users were trading them.
But Robinhood is planning to go public The company already confidentially files for an upcoming IPO.. Cleaning up any controversial aspects of the application – not even as comfortable as confetti celebrations – is a logical step to please future investors.
Leave a Reply