The latest news on Super Bowl commercials. (All times EST.)
Smartphone-based stock market investment service Robinhood bought its Super Bowl spot in December after a successful year, unaware that it was about to make global headlines.
“We’re all investors,” says the ad that features a cross-section of people from different occupations. One person is using the app as she gets a coffee refill in a diner.
Robinhood users were among the small investors who shocked Wall Street last month. A social media frenzy among small investors briefly pushed up shares of troubled video-game retailer GameStop by 1,600% at the expense of hedge funds that were betting it would lose value. The stock frenzy also brought customer backlash to Robinhood and scrutiny from Congress and regulators after the company restricted some types of trades in response to the overwhelming volume.
“We got to the end of the year, looked back and reflected on what we’d seen,” said Robinhood Chief Marketing Officer Christina Smedley. The company pulled the ad together in four weeks, she said.