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Trader beware: Read this before buying stocks with investment apps like Robinhood

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As social media has stoked interest in an assortment of
stocks that recently were being shorted by hedge funds, Robinhood and similar,
low-cost trading and investing platforms have served as an important tool.

Throughout this saga — even after some of these platforms temporarily prohibited buying and selling of stocks like GameStop — Robinhood saw record growth, according to an analysis from JMP
JMP,
-0.47%
.
On Friday, traders downloaded the Robinhood app more than 600,000 times, well above the record set last March.

But Robinhood isn’t the only trading or investing platform
seeing customer growth lately. Competitors like Webull and SoFi saw…



Source marketwatch.com

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