Stop Removal of Warrant Trading from Robinhood
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The Robinhood platform recently announced they would suspend warrant purchasing on their platform. Their reasoning behind it made no sense . See below:
We're reaching out to let you know that going forward, you'll no longer be able to purchase BTX+. Moreover, you'll notice that in the coming weeks we'll no longer support the purchase of warrants on the platform.
We've noticed that most people didn't intend to trade warrants like BTX+, but instead wanted to trade the company's common stock. Warrants simply give you the right to buy the underlying stock at a specific strike price; they are not the stock itself. We're hoping that this change will make trading on Robinhood less confusing for everyone.
You'll continue to receive warrants issued to you from corporate actions. Additionally, you may continue to hold and sell your existing shares of BTX+, but you'll no longer be able to purchase additional shares.
Thanks, and please let us know if you have any questions.
The Robinhood Team
The platform clearly states that it is a warrant. Traders should be responsible for doing their own research, just because a few dumb traders don't do their research all, traders on Robinhood are limited.
We hope that Robinhood will revoke their decision to suspend warrant trading.
Please sign this petition if you support this argument. Also share with your fellow traders. We will be sending this to Robinhood's board of directors.
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