Robinhood is, of course, named for the mythical 12-century English outlaw. Present-day actual residents of Nottinghamshire, however, won’t be using it anytime soon. Our condolences to the British equivalents of Sears and Hertz, for your twenty- and thirty-something, bored and potential frightfully underinformed savior(u)rs are not coming any time soon.

In an email sent Tuesday to more than 260,000 people on its U.K. waiting list, the company, which was authorized by the U.K. financial regulator last year, said the launch was postponed indefinitely. The launch would have been Robinhood’s first expansion outside the U.S.

“The world has changed a lot over the past several months and we’re adapting with it,” Robinhood said in the email. “Our efforts are currently best spent on strengthening our core business in the U.S. and making further investments in our foundational system.”

By which the app which has democratized gambling on the markets means maybe doing something about the glitches that provide unlimited leverage and keep users from trading during those frenzied coronavirus days that those very users are fueling, and also the ones that make users kill themselves.

Robinhood Cancels U.K. Launch Amid U.S. Outages, Controversy [WSJ]

Related

robinhood

Sheriff of Boston-ham Wants To String Up Robinhood

This time, though, it’s for taking money from the poor.

robinhood

Robinhood Has A Couple Of Teensy Things To Get Off Its Chest Before Tomorrow’s IPO

We’re sure you’ll agree with it that probes into potential insider-trading and whether its CEO should be allowed to be its CEO are nothing to worry about.

robinhood

Sheriff Of Boston-ham Comes For Robinhood

Massachusetts has some problems with the Millennial trading-game app.

robinhood

Robinhood Finds Sympathetic Regulatory Shoulder To Settle With

FINRA can always be counted on to offer a relative bright spot in a legal and regulatory hellscape.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Robinhood Gets Some Good News Vis-à-Vis Getting Sued

TD Ameritrade can’t be hit with a class-action over payment for order flow, so the little app that sometimes couldn’t probably can’t, either.

robinhood

Robinhood May Lose 81% Of Its Revenue, Still Going Public Anyway

No payment for order flow? No problem for this merry band of troublemakers.