It looks like Robinhood is going to be the next Twitter in terms of financial performance. Nine years of having a trading app and brokerage business, and this is the first quarter they've ever turned a profit, and that profit was primarily from margin interest income due to higher interest rates in general. Considering how they lost a million users just in the last quarter alone, it will be interesting to see how long the company's major investors are going to put with this nonsense before they start demanding some serious changes in management and strategy moving forward.
HOOD continues to move in the range ~8 to ~13. It has been moving in the range for months and will continue to do so until the chart says otherwise.
As far as I'm concerned that they brought "free" trading to the business is a good enough reason to hope they continue to be. If they were to fall, all brokerage firms will go back to the $15 round trip fee in a nano second.
Nonsense. Long before HOOD did discount brokers like IB already charge a cent per share and discounted commission on fx and futures and options. HOOD added virtually nothing of value to any serious retail trader. What they did was hook complete and utter newbies to gamble and most often lose their covid money. Like always the hundreds of billions of government funding ended up in the pocket of the 1%.
They got confetti when placing a trade. Surely that was a true value-add that not even the mighty IB could offer.
Robinhood to Start Charging Customers Regulatory Fees for Options Trading Hannah Miao - WSJ Robinhood will begin passing on regulatory fees to customers for options trading starting Sept. 21, according to a notice sent to customers Thursday. The online brokerage helped popularize options trading among everyday investors by not charging commissions, a practice Robinhood said it will continue. /jlne.ws/3QuaI2C