On Wednesday, Warren released a response she got, dated Feb. 12, from the firm after requesting more information in a letter on why it abruptly restricted trading last month in some of the most heavily shorted stocks jolting the retail and Reddit investor community.
“Robinhood’s response to my letter reveals that the company did not have enough cash on hand to manage a surge in trading and buried important information about consumers’ rights,” said Warren in a statement.
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The Associated Press contributed to this report
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