Robinhood: Did Their President Trade On Non Public Information?
Today we chat about how Robinhood Markets (NASDAQ: HOOD) President Jim Swartwout, who was potentially trading on non-public material information. In a class-action lawsuit filed against the company, we find out that Swartwout sold all of his AMC prior to announcing the PCO (position closing only), meaning he knew the stock was about to drop, yet he sold his shares anyways.
Also, Citadel CEO Ken Griffin is worth a mention, given that we now know there was communication between both Citadel and Robinhood.
Information for this briefing was found via Twitter, Court Documents and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
