Robinhood Extends Slump on Fears of Payment for Order Flow Ban
- Stock slides after SEC Chief said full ban was ‘on the table’
- SEC’s Gensler has previously criticized the trading practice
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Robinhood Markets Inc. continued to slide after U.S. Securities and Exchange Commission Chairman Gary Gensler said a full ban on payment for order flow is “on the table.”
Robinhood fell about 0.8% to $43.31 as of 10:28 a.m. in New York on Tuesday, after Gensler told Barron’s the day before that paying for order flow -- where brokerages send customer orders to trading firms and receive payments in return -- has “an inherent conflict of interest.”