Jan 28, 2021
Robinhood is said to draw on credit lines from banks amid tumult
Bloomberg News
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Robinhood Markets, the trading app that’s popular with investors behind some of this month’s wildest stock swings, has drawn down some of its credit lines with banks, according to people with knowledge of the matter.
The firm has tapped at least several hundred million dollars, one of the people said. Lenders include JPMorgan Chase & Co. and Goldman Sachs Group Inc. A representative for Robinhood declined to comment.