Robinhood is operating its first Tremendous Bowl advert, simply as the corporate faces a rising model disaster. CNBC reports that the industrial marks Robinhood’s largest model marketing campaign, and it focuses on the concept that anybody will be an investor. That’s been on the middle of Robinhood’s message because it was based seven years in the past, however latest inventory restrictions have undermined Robinhood’s total model.
Robinhood briefly banned small buyers from shopping for inventory in firms like GameStop final week, earlier than placing restrictions on stocks related to r/WallStreetBets — together with GameStop, AMC, and Nokia. The transfer angered 1000’s of Robinhood clients attempting to purchase shares, and the corporate’s app acquired review-bombed on the Google Play Retailer. Whereas Google initially tried to salvage the app’s score, it plummeted back down to only one star yesterday.
Robinhood can be going through dozens of lawsuits over the GameStop inventory freeze, and Rep. Alexandria Ocasio-Cortez (D-NY) additionally called on Congress to investigate the Robinhood app. Robinhood claims the restrictions had been put in place as a consequence of clearinghouses abruptly requiring a lot greater deposits, however the firm hasn’t particularly defined the cryptocurrency restrictions it additionally put in place.
This new Tremendous Bowl industrial doesn’t deal with any of the controversy round Robinhood proper now, making it quite awkwardly timed. CNBC experiences that Robinhood’s chief advertising officer, Christina Smedley, says the advert is designed to let folks know extra in regards to the app. “It felt like this was an awesome stage for us to remind folks about what we stand for and remind folks about why the corporate was put into existence within the first place,” says Smedley.
Robinhood has disabled feedback on the YouTube model of the industrial, however a version on Twitter is already seeing detrimental responses to this new Tremendous Bowl advert.