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I wonder if they will list themselves on their IPO access offering: https://robinhood.com/us/en/support/articles/ipo-access/ It's going to be interesting to buy Robinhood with Robinhood...
That's some pretty crazy growth! Granted, that was a unique time in crypto. But I'm sure history will repeat. Will be interesting to see how RH's crypto strategy develops based on this. Crypto essentially brings the payment for order flow in-house and makes RH the market maker for doge, BTC, etc. So maybe RH will just start to look more like Coinbase!
“ A substantial portion of the recent growth in our net revenues earned from cryptocurrency transactions is attributable to transactions in Dogecoin. If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition and results of operations could be adversely affected. For the three months ended March…
$1 billion in top line revenue in 2020. Wow.
Either Robinhood has found a smarter business model re: selling order flow or they are making a killing on crypto fees. The commission business model is dead for good I think.
https://www.nasdaq.com/articles/net-interest-revenue-will-fo...
The share count and price are redacted, though likely to be somewhere in the $30 billion range. Regardless, that helps put the $70 million fine from yesterday [1] in context. It was the largest fine in FINRA history, but will it have been worth it? The $65 million fine in December suggests they weren't sufficiently deterred to change. [1] https://news.ycombinator.com/item?id=27690543
I remember seeing their first public demo at LA Hacks in 2014. Seemed like a couple of kids right out of college. They had the iPhone's screen hooked up to the projector and one of their friends kept sending them silly text messages the whole time that they had to dismiss. This was before the Do Not Disturb feature came out. I remember wondering how it took so long for someone to make a half decent stock trading app…
Risk factors are lovely: We have been subject to regulatory investigations, actions and settlements and we expect to continue to be subject to such proceedings in the future, which could cause us to incur substantial costs or require us to change our business practices in a manner materially adverse to our business. We are involved in numerous litigation matters that are expensive and time-consuming, and, if resolved…
Any company that operates in a highly regulated area (finance/health/gambling/etc) are going to have regulatory on their risk factors.
Any Company whose business is run on an app or a website is going to have the tech failure one.
Earlier quoted context omitted.
> “ lots of first time investors (18-24), who over time will grow to be big investors” Or will be burned by the next prolonged downturn and exit the market permanently.
"There is a famous story, we don’t know if it’s true, about how in the late summer of 1929, a shoe-shine boy gave Joe Kennedy stock tips, and Kennedy, being a wise old investor, thought, “If shoe shine boys are giving stock tips, then it’s time to get out of the market." Seems like I'm getting a lot of advice about the market from people with less knowledge about the market than shoe shine boys. My mom and my sister…
I remember seeing their first public demo at LA Hacks in 2014. Seemed like a couple of kids right out of college. They had the iPhone's screen hooked up to the projector and one of their friends kept sending them silly text messages the whole time that they had to dismiss. This was before the Do Not Disturb feature came out. I remember wondering how it took so long for someone to make a half decent stock trading app…