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Elon Musk triggers mass downloads of Robinhood app

Tesla CEO Elon Musk's chat with Robinhood boss Vlad Tenev on the audio-based social network Clubhouse on Sunday led to a stampede for invitations into the exclusive service.

Source: Sharecast

The chat propelled the app to the top of the startup charts on the back of demand for invitations to the new service on platforms like Reddit, eBay and Craigslist.

Members of the app get to invite a limited number of friends during its pre-launch period.

The interaction between the two entrepreneurs followed intense interest in Robinhood, given its well-publicised role as the broker of choice for retail investors speculating against the short positions of some of Wall Street's biggest hedge funds.

According to Reuters, even in China, where the app isn’t available, invitations are being sold on Alibaba’s second-hand market place Idle Fish.

Investors' eagerness to access the app contributed to a 117% surge in shares of Clubhouse Media Group at one point during the week.

Unbeknownst to those investors nevertheless, that stock is completely unrelated to the audio based social network.

As of Tuesday, data analytics firm Sensor Tower said there were about 3.m installs worldwide for the app, with 1.1m of them coming in the last six days.

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