Google removed at least 100,000 negative reviews of the share trading app Robinhood. After getting angry, users on Thursday sent a flood of critical reviews due to the app’s rating. The app’s rating went from about four stars out of five on Wednesday to just one star on Thursday. Robinhood users were upset after stopping the purchase of GameStop’s stock and other shares promoted by Reddit’s WallStreetBets community.
A Google spokesman confirmed that the tech giant had pulled off the reviews and defended the move overnight, telling Gizmodo over email that he had “rules against coordinated or inorganic reviews.” Gizmodo asked how negative reviews can be considered “inorganic” when people are reasonably upset about Robinhood’s actions in recent times. Google stopped responding to Gizmodo’s email after that investigation.
Robinhood’s ratings on the Google Play App Store have rebound more than four stars as Google has removed negative reviews. The app also has a rating of 4.7 on Apple’s App Store, although it is unclear what moderation Apple has done for Robinhood this week.
There are still questions about who actually led Robinhood to stop the purchase of shares raised by WallStreetBets of Reddit on Thursday – stocks that include not only Gametop, but Nokia, Blackberry and AMC Theaters. An early theory was that hedge funds, which had little stock, leaned on Robinhood to stop trading, but an alternative theory emerged that Robinhood did not have the cash flow to continue to process multiple stock purchases. .
The latter theory appears to have been spelled out by a new report early Friday. new York Times Robinhood claims to have raised nearly $ 1 billion from existing investors such as Sequoia Capital and Rebbit Capital. Robinhood CEO Vlad Tenev denied that the company had liquidity problems Cnbc Yesterday, but this does not mean that it was not anticipating liquidity problems in the near future.
Angered by the company’s decision to block the purchase of GameStop, Robinhood users a class action lawsuit On Thursday, a move that would lend credibility to the idea that a negative app rating on Google Play is not “inorganic”.
It has been a turbulent week on the stock market, as retail investors active on Reddit have shown the entire system a scam in favor of the rich. But no one knows where the US financial markets will go in the coming days and weeks.
It is known in the hearts of most Americans that the game has been rigged. But this week’s action by investors active on Reddit has made the rules clear for the whole world. Wealthy people will not tolerate average people making money when they suffer.
The question is whether hedge fund managers and other wealthy people are ready to take it to protect their class interests. If history is a guide, the answer is “far away.”