Here’s Michael Bolton singing about payment for order flow
You know, when I think about the stock market, I do not really consider Michael Bolton. However I think Public– which describes itself as “the investing social network”– was jealous that Robinhood was getting all the press attention, so it worked with Bolton to revamp his 1989 struck “How Am I Expected to Live Without You.” The brand-new variation is a lament about payment for order circulation, which was just recently the topic of Reddit outrage and a point of query in a House hearing.
Bolton is absolutely solemn in the beginning– almost to the point of encouraging me that this is a hostage proof-of-life video. In both instances, he got a paycheck and demonstrated that he has a sense of humor.
The practice Bolton is lamenting is a controversial one, payment for order circulation, which was recently the target of Reddit’s fury. The payments are part of why apps such as Robinhood can use trades for complimentary.
After the uproar around Robinhood during the GameStop debacle, Public announced it would no longer engage in payment for order flow Last week, a day prior to Robinhood was quizzed about payment for order flow in a largely incoherent House subcommittee hearing, Public announced it had actually raised $220 million
To continue putting pressure on Robinhood, Public is using to cover any costs for transferring from your previous brokerage to itself.
( the heading, this story has not been published by Crucial India News staff and is published from a syndicated feed.).