231–240 of 404 posts
That's what happens when you spend a decade printing a lot of money Value becomes diluted
We detached this subthread from https://news.ycombinator.com/item?id=27702432 and marked it off topic. Please don't take HN threads on generic tangents. https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor... https://hn.algolia.com/?dateRange=all&page=0&prefix=true&sor...
Per-user revenue was $109 for 2020. My goodness payment for order flow and cryptocurrency rebates are lucrative.
buy buy buy. Bullish! Opinion: * RH will drag the industry to T+0 settlement, thus breaking wall street shenanigans with 100%+ short selling. Inevitable to see the merging of on-chain settlement with traditional stonks. * RH has the largest amount of Dogecoin AUM globally (8.7B $USD equiv) * RH has a lot of bitcoin, ether and other coins AUM. * RH will eventually be the biggest broker in the US (world)? * RH encourag…
I use both Robinhood and Schwab, and the Robinhood app is absolutely terrible.
The visual aesthetic is nice, but usability is awful... I don't really understand the hype. For example they have no dedicated orders screen to cancel limit order that I can tell. There's an "inbox" where your limit order will show up after some delay. I placed an order once and decided to cancel it, but the inbox message didn't show up for 5 minutes, so I had no way to cancel it.
Also you can't see older than 5? years on stock charts. Or zoom or anything, only specific presets.
Finally, I bought a small amount of crypto, and did a market order sell once, and my fill price was like 10% under current market value. Obviously market orders are bad, but most brokers have safeguards that prevent executing them at such a difference from last traded price.
Anyway, bad experience all around. I imagine the only people who use it seriously are those that haven't tried more serious brokers, or that don't know any better.
The idea behind Robinhood is good, but it could be done so much better. So many obviously bad design elements
“ 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…
I find it interesting that Elon Musk has tweeted about Dogecoin several times in the past day, and his tweets no longer seem to be causing price spikes. A lot of Cryptocurrency twitter is mad at him for his actions and statements on Bitcoin, I wonder if that has broken his ability to manipulate price with tweets. If that's the case, probably a bad thing for Robinhood. But maybe people will come back around to him wit…
Per-user revenue was $109 for 2020. My goodness payment for order flow and cryptocurrency rebates are lucrative.
Funny that you are being played most, when you think you are in control.
$1 billion in top line revenue in 2020. Wow.
Pretty sure they're counting any crypto bought as revenue, which seems highly misleading. Are they counting any stock purchased as revenue too? I don't understand the justification for that accounting at all. The profit on any transaction for them is 0 dollars, unless they're skimming on spreads or frontrunning or something else scammy. Square does this as well, which is how they got "200%" revenue growth. Correct me…
Key Components of our Results of Operations
Revenues
Transaction-based revenues
Transaction-based revenues consist of amount earned from routing customer orders for options, equities and cryptocurrencies to market makers. When customers place orders for equities, options or cryptocurrencies on our platform, we route these orders to market makers and we receive consideration from those brokers. With respect to equities and options trading, such fees are known as PFOF. With respect to cryptocurrency trading, we receive “Transaction Rebates.” In the case of equities, the fees we receive are typically based on the size of the publicly quoted bid-ask spread for the security being traded; that is, we receive a fixed percentage of the difference between the publicly quoted bid and ask at the time the trade is executed. For options, our fee is on a per contract basis based on the underlying security. In the case of cryptocurrencies, our rebate is a fixed percentage of the notional order value. Within each asset class, whether equities, options or cryptocurrencies, the transaction-based revenue we earn is calculated in an identical manner among all participating market makers. We route equity and option orders in priority to participating market makers that we believe are most likely to give our customers the best execution, based on historical performance, and we do not consider transaction fees when routing orders. For cryptocurrency orders, we route to various market makers that we believe offer competitive pricing, and we do not consider Transaction Rebates when routing cryptocurrency orders.
Net interest revenues Net interest revenues consist of interest revenues less interest expenses. We earn interest revenues and incur interest expenses on securities lending transactions. We also earn interest revenues on margin loans to users, as well as on our segregated cash, cash and cash equivalents, and deposits with clearing organizations. We also incur interest expenses in connection with our revolving credit facilities.
Other revenues Other revenues primarily consist of Robinhood Gold, a monthly paid subscription service that provides users with premium features such as enhanced instant deposits, professional research, Nasdaq Level II market data and, upon approval, access to margin investing. Other revenues also include proxy rebate revenues and miscellaneous fees charged to users.
Per-user revenue was $109 for 2020. My goodness payment for order flow and cryptocurrency rebates are lucrative.
A few months later I asked how to reopen the account, using the "reopen account" form in their app to generate a support ticket. Three weeks later they sent an email saying that my account was permanently closed and I should apply for a new account. Replies to this email yielded a response saying that their email server was failing to accepting messages.
So as requested I applied for a new account; the application stayed pending for three weeks, then I got an email autoreply telling me that my application is denied because I have a preexisting account (i.e. the old closed one). Replies to this email also yielded a response saying that their email server was failing to accepting messages.
I filed a new support case explaining what had happened, what they told me to do, and asking what I should do next. No reply whatsoever.
I understand that many give Robinhood crap because it is not "sophisticated enough" or because of the Gamestop fiasco. Although many startups like to claim that they are "democratizing [x]", I honestly believe they did it. I have many friends that never traded before, and after they got their Robinhood account they feel comfortable enough to do it often. Even myself, who used to only trade a couple of times a year, s…