Robinhood Acquires Say Technologies In $140 Million Cash Deal

Robinhood acquires say technologies
Robinhood acquires say technologies – investing news

Robinhood (NYSE: HOOD) just acquired Say Technologies for $140 million cash. This is the same company AMC Entertainment used to connect with its shareholders.

Say Technologies allowed the AMC community to ask Adam Aron questions to be answered during the Q2 earnings conference call. Retail investors already want out.

It seems that the community does not want to partake in anything with Robinhood’s name on it. Here’s what’s going on.

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Retail Investors Provided Say Technologies With Confidential Information

One of the biggest reasons retail investors are disconnecting from Say Technologies is because of how much confidential information was provided to the company.

Now, AMC shareholders are concerned their information is at risk with Robinhood acquiring the company. Robinhood is an affiliate partner to the unregulated hedge fund monster, Citadel Securities.

Retail investors fear that the information they provided the company may be used against them as Robinhood is no longer a trusted broker in the community.

What Information Does Say Technologies Track?

According to their website, Say Technologies tracks the following:

  • Investments
  • Trade History
  • Balances
  • Name and Contact Information
Say technologies

The company continues to use and store ongoing information for as long as you’re connected to the service.

Say Technologies Compromised?

Shareholders were required to provide the login information to their broker accounts which also calculated and registered their positions.

Now, retail investors aren’t so sure they can trust the company with Robinhood overseeing it.

If you signed up with Say Technologies you can still unlink your brokerage account. Be sure to change your brokerage account password once you’ve disconnected to ensure your private information is no longer monitored.

Did you sign up with Say Technologies?

Let me know in the comment section below. Will you keep using the service or will you be unlinking?

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Read: AMC Entertainment to accept Bitcoin as online payment


14 Comments

  1. Alvin

    Just deleted mine also last i will sigh up for something like this

    • Frank Nez

      It’s a bummer because the concept is cool. RH just ruins it for me

  2. Anthony

    This is insane. Could they be protecting potential information that can be used to show illegal share lending by RH or other nefarious reasons?

    • Frank Nez

      ☝🤔💭

  3. Bernard

    As soon as I heard SAY had been purchased by Robinhoid, I disconnected my brokerage accounts, deleted my Say account, changed my brokerage account passwords and security questions. I also added secondary authentication. I, personally, simply do not trust RH and their associated organizations.

    Thank you for your work. Read all your stuff. Wishing you well.

    God bless.

    • Frank Nez

      Thanks for being a reader Bernard 🤝 God bless

  4. Jake Scott

    Thanks Frank! Yes I will also disconnect from Say as I dont trust anything about Robinhood. Picked up 45 more AMC today! Let’s go Apes!

    • Frank Nez

      Right on Jake! Lets go brother ape!

  5. Marshal Delcambre

    No I did not use Say & just didn’t feel comfortable using them with private info – but I do hold over 4K shares of AMC & holding or lose it all !!!

    • Frank Nez

      4K! 🤩 Nice!

  6. Timothy Griffin

    I’ve already canceled my Say account. Just for good measure I’ve changed my brokerage password. Done with Say and Robinhood! No trust in either!

    • Frank Nez

      Thanks for sharing Timothy, I don’t trust them either brother

  7. Jon

    Will I continue using Say Technologies? Not just no, but HELL NO!! Frank, thank you for all the valuable information you provide the AMC community. We truly appreciate you!!

    • Frank Nez

      Thank you Jon for your amazing support and for always voicing your opinion brother, love hearing from you 🤝✨💯

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