Robinhood recently experienced a massive decline in its existing app reviews on Google Play Store, bringing down the thriving figure of 275,000 reviews to over 120,000. This came right after the suspension of multiple rising stocks, including GamesStop and AMC Entertainment, sparking large-scale outrage over the trading community against Robinhood.
Mr. Whale, a financial analyst, reported this incident for the first time writing on his Twitter handle with the relevant screenshot comparing the number of reviews on the app page. His tweet apparently revealed the actual reason behind this abrupt decline in the number of reviews, influencing the Robinhood app rating from one star to about four stars.
Google just removed over 120,000 negative reviews of RobinHood on the App Store.
Screenshot is noon, and now pic.twitter.com/BjaXIEWhiD
— Mr. Whale (@CryptoWhale) January 29, 2021
Later on, Google reportedly confirmed this mass removal of negative reviews citing infringement of Google Play Store Policies while undermining several user’s sentiments. They also raised concerns on violations primarily targeting to manipulate app ratings by stating that their system is equipped with “combined human intelligence with machine learning to detect and enforce policy violations in ratings and reviews.” and doesn’t leave the option to modify the changes made by their content moderation system.
As this doesn’t end here, leading to “calling for a class-action lawsuit” to express the ire of those unhappy users of Robinhood. In an official statement, Robinhood explained many things on this development, including the allowance “limited buys” of individual stocks and clarifying the purchases halt as “a risk-management decision.”
Reddit’s Wall Street Beta recent move also heavily influenced GamesSpot’s stocks going up against short-selling Wall Street traders like Melvin Capital
And the unexpected stock halt triggered the trading of Dogecoin on the same day, eventually leading to a tectonic rise also speculated to orchestrate through the Reddit community. But more interestingly, since 2015, Doge returned in all its glory to the top 10 Cryptocurrency list after its 900% growth in less than two days as of Jan. 29.
— unfolded. (@cryptounfolded) January 28, 2021