Archives

August 3, 2023 @ 3:55 pm By JD Alois  |  

Robinhood (NASDAQ:HOOD) posted Q2 2023 earnings yesterday reporting its first quarterly profit. Yet, shares declined on the news as investors wondered about other metrics, including a decline in users. Robinhood said that total net revenues increased 10% sequentially during the quarter to $486 million, primarily… Read More

June 28, 2023 @ 9:37 am By Omar Faridi  |  

Stock trading app provider Robinhood (NASDAQ:HOOD) has reportedly laid off another 7% of its workforce, around 150 workers. This, according to a recent update from the WSJ. With trading volumes declining considerably over the past year, the Fintech company made the cuts in order to… Read More

June 23, 2023 @ 9:22 am By Omar Faridi  |  

Robinhood Markets, Inc. (NASDAQ:HOOD) has entered into an agreement to acquire San Francisco-based X1 Inc., a platform that “offers a no-fee credit card with rewards on each purchase.” According to Robinhood, this marks “an important step in their journey towards broadening their product offerings and… Read More

May 11, 2023 @ 9:17 am By JD Alois  |  

Robinhood (NASDAQ:HOOD) reported Q1 2023 results yesterday which were perceived as better than anticipated by investors. Robinhood said that net revenues increased 16% sequentially to $441 million, with transaction-based revenues increasing as well by 11% to $133 million. Crypto trading, once a big driver of… Read More

May 2, 2023 @ 7:19 pm By Omar Faridi  |  

The team at Robinhood (NASDAQ:HOOD) have introduced new features to simplify access to Web 3. According to the firm, Robinhood Connect helps “make Robinhood Crypto the most trusted, lowest cost and easiest to use crypto on-ramp.” Recently, at Consensus 2023, Robinhood Crypto GM Johann Kerbrat… Read More

April 6, 2023 @ 5:37 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA), the group that represents all state securities regulators plus provinces in Canada and states in Mexico, has announced a penalty of $10 million assessed on Robinhood (NASDAQ:HOOD). Under the terms of the settlement, Robinhood neither admits nor denies… Read More

March 17, 2023 @ 9:03 am By Omar Faridi  |  

Robinhood Inc (NASDAQ:HOOD) has reportedly decided to make an exception to its short position ban for customers who had placed winning “puts” against failed lender Signature Bank (Nasdaq: SBNY), the FT revealed on Thursday (March 16, 2023). Put options are essentially contracts that provide a… Read More

February 27, 2023 @ 10:53 pm By JD Alois  |  

Robinhood (NASDAQ:HOOD) received a subpoena from the Securities and Exchange Commission (SEC) this past December, according to the firm’s 10-K that was filed today. According to the document, the SEC’s request arrived following the collapse of FTX: “And in December 2022, shortly after FTX filed for… Read More

February 9, 2023 @ 10:53 am By JD Alois  |  

  Robinhood (NASDAQ:HOOD) revealed it has canceled the acquisition of Ziglu, a UK Fintech that opened the door to a new market. Ziglu holds an e-money license and is regulated by the UK Financial Conduct Authority. Ziglu provides crypto trading in the UK as well… Read More

February 9, 2023 @ 10:28 am By JD Alois  |  

Robinhood (NASDAQ:HOOD) posted Q4 and full year 2022 results yesterday that delivered a net loss of $166 million, or an EPS of -$0.19, compared with net loss of $175 million, or EPS of -$0.20, in the third quarter of 2022. For the full year, Robinhood… Read More

January 12, 2023 @ 10:13 am By JD Alois  |  

Robinhood (NASDAQ:HOOD), has announced the availability of its new retirement product. The new service was revealed last year, and the digital brokerage launched a waitlist with names now said to be over 1 million customers. Perhaps the most interesting aspect of the retirement product is the… Read More

November 3, 2022 @ 11:04 am By JD Alois  |  

Robinhood (NASDAQ:HOOD) announced earnings yesterday that delivered a slightly better result than anticipated. Today, shares in Robinhood are inching higher – fighting a down market day – but minor gains belie a company that has lost around 2/3s of its value since its initial public… Read More

October 12, 2022 @ 4:51 pm By Omar Faridi  |  

Opportunity Crypto will stop in five different communities this fall, “educating individuals about cryptocurrency, including the risks and opportunities.” The team at Robinhood (NASDAQ:HOOD) asked if you ever wondered “what is crypto” or “is crypto right for me”? In line or consistent with their mission… Read More

September 22, 2022 @ 9:56 am By JD Alois  |  

Robinhood (NASDAQ:HOOD), a social trading platform providing access to both traditional securities and crypto, is seeing a bump in its share price as chatter indicates that the practice of Payment for Order Flow – will remain in place. Robinhood promotes is a fee trading service… Read More

August 22, 2022 @ 5:25 pm By JD Alois  |  

Earlier this year, Robinhood (NASDAQ:HOOD) made a big announcement regarding expanding services across the Atlantic. The social investment platform announced the acquisition of Ziglu in the UK – an FCA-regulated e-Money platform and crypto asset provider. All subject to regulatory approval, of course. A few days… Read More

August 2, 2022 @ 5:28 pm By JD Alois  |  

Robinhood (NASDAQ: HOOD) released Q2 2022 financial results that delivered a sequential increase in net revenue of 6% or $318 million, but the slight improvement was not enough to please analysts as it was deemed a miss. Shares in Robinhood were trading at around $9… Read More

June 27, 2022 @ 4:02 pm By JD Alois  |  

Sam Bankman-Fried is acting once again to take advantage of significantly lower valuations in a struggling marketplace. Rumors claim that Bankman-Fried is looking to purchase Robinhood via his crypto exchange FTX. While no deal yet, the rumblings have caused shares in Robinhood (NASDAQ:HOOD) to rise… Read More

June 7, 2022 @ 9:05 am By JD Alois  |  

Ziglu, a UK-based e-Money institution and crypto platform, has announced a partnership with  ClearBank, a “cloud-based clearing bank.” ClearBank is regulated by the UK Financial Conduct Authority and the Prudential Regulation Authority. According to a company statement, Ziglu will be utilizing ClearBank’s platform to provide… Read More

May 12, 2022 @ 9:02 pm By JD Alois  |  

Sam Bankman-Fried, founder and CEO of FTX, has purchased a 7.62% stake, or 56,273,469 shares in Robinhood (NASDAQ:HOOD). Bankman-Fried paid $648,293,886.33 for the shares. The share were purchased at an average price of $11.52/each. The purchase was revealed in a filing with the Securities and… Read More

May 5, 2022 @ 7:04 pm By JD Alois  |  

This is interesting. Robinhood (NASDAQ:HOOD) announced this week that its account holders will now enable “Stock Lending.” To quote Steve Quirk, Chief Brokerage Officer at Robinhood: “Our version of Stock Lending empowers customers to put their investments to work while keeping it simple. Robinhood does… Read More