Jim Cramer Praises Robinhood, Says Other Platforms Making 'Big Mistake'

Jim Cramer, a prominent financial commentator and the host of the Mad Money show on CNBC, has published a tweet about the Robinhood investment platform. He believes that this platform is important for future generations of investors and sets them on the right path.

Investment houses lose it to Robinhood: “Big mistake”

Cramer underscored that Robinhood is “not a play on crypto or dangerous options.” The financial expert pointed out that the platform is likely to be used by millennials and generation Z: “an investment in the way the next generations will invest.”

Besides, Cramer said that the aforementioned financial services company is a field unto itself and is benefiting from it since traditional investment houses “don’t even want their clients and don’t understand what they want.”

That attitude is a “big mistake,” he stated.

SEC dismisses suit against Robinhood

As reported by U.Today earlier this week, the U.S. Securities and Exchange Commission (SEC) finally announced that it dismissed the legal suit against Robinhood Crypto. Robinhood shares jumped by 2% premarket on Monday following that decision, after plunging by 8% at the end of last week. On Feb. 25, Robinhood shares dropped by more than 10% in light of the crypto market drawdown.

Originally, the suit was filed in May last year, when the company received a Wells notice from the regulator.

This week, the SEC also dropped its case against another popular cryptocurrency platform – Uniswap Labs.