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Robinhood says its latest product will fix social media trading
Yahoo Financeยท 2025-09-10 00:30
Core Insights - Robinhood is launching a new app feature called "Robinhood Social" aimed at allowing users to follow prominent traders and manually mimic their trades, addressing the issue of predatory scams prevalent on social media platforms [2][3][5] Group 1: New Feature Overview - "Robinhood Social" will enable users to connect with like-minded investors and view trades from famous investors and Members of Congress, although it will not allow automatic trading based on others' actions [2][4] - The platform will require users to verify their identity and provide evidence of their actual portfolios, contrasting with the often unverifiable claims made on social media [5] Group 2: Implementation and Goals - The company plans to create an initial pool of 10,000 users for "Robinhood Social" in the first quarter of next year, with the goal of fostering a vibrant and healthy community from the outset [6] - The announcement of this feature was made during Robinhood's annual HOOD summit, where the company also introduced expanded AI features for stock screening [6]