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Robinhood: A $57 Million Mistake And Вђ˜tremendou... -

Robinhood: A $57 million mistake and 'tremendous sacrifices'

In late 2022, a processing error during a Cosmos Health corporate action caused Robinhood to lose $57 million in a single day, highlighting the severe operational risks that necessitated cost-cutting measures, including staff reductions and cancelled executive bonuses. This internal technical failure coincided with the company's efforts to reach profitability following a separate 2021 FINRA penalty, which also totaled $57 million for customer-related harm. Read more at Investors.com . Robinhood: A $57 million mistake and ‘tremendou...