Robinhood To Air Super Bowl Ad After Controversy

    • Robinhood will be airing a commerical during the Super Bowl
    • The commercial is an attempt to repair Robinhood's image after a trading controversy

Robinhood is sticking to its plan to air a Super Bowl commercial despite recent backlash. 

The online brokerage booked its 30-second spot in December, but considered pulling out due to the controversy around its handling of the “meme stocks” saga, according to The Wall Street Journal.

Although its decision to limit purchases of shares in stocks like GameStop and AMC was poorly received, Robinhood wants to use the spot to rehabilitate its image.

Users downloaded the app more than 1.3 million times from Jan. 25-31. The ad will reportedly focus on the idea that anyone and everyone can become an investor.

“We wanted to remind people who’ve heard about Robinhood in the last few days and weeks about what we stand for,” Robinhood CMO Christina Smedley told The Wall Street Journal. Super Bowls ads went for about $5.5 million this year.

The new spot will not directly address the app’s role in last week’s events, but the company plans to roll out other ads that do in the future.