Robinhood cuts losses after transaction revenue drops
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Re: Robinhood cuts losses after transaction revenue drops
#2Stock market has been in a slump all year, crypto down huge. Close to 100k layoffs in tech (according to layoffs.fyi). I think people got other things on their mind than trading stocks/crypto.
Re: Robinhood cuts losses after transaction revenue drops
#3[deleted]
Re: Robinhood cuts losses after transaction revenue drops
#4> Rising interest rates helped lift quarterly net interest revenue to $128 million, more than doubling from the same period a year ago. Chief Financial Officer Jason Warnick said the company has about $17 billion in assets that generate interest revenue.
While Robinhood used to pay a competitive interest rate for cash in the account, it is now 1.5% while Fed risk-free rate is now 3.75%+. You need to pay for Gold subscription to access the decent interest rate.
Square/Block/Cash App also just announced a huge boost in profitability.
While it wasn't feasible in the last years of zero interest, now, digital wallets are profiting off the difference of giving you 0 - 1.5% interest of your sitting cash while they pocket 3.75%+.
Re: Robinhood cuts losses after transaction revenue drops
#5If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Re: Robinhood cuts losses after transaction revenue drops
#6If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Fidelity or Schwab
Re: Robinhood cuts losses after transaction revenue drops
#7I suspect that Robinhood's active user count will be highly correlated with market/crypto returns.
Re: Robinhood cuts losses after transaction revenue drops
#8If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Fidelity. Very nice desktop and mobile apps. Trustworthy and established. Robinhood cant even be compared to it. While you are at it, get yourself some FNILX stocks and collect dividends on an index.
Re: Robinhood cuts losses after transaction revenue drops
#9If Robinhood had to close shop, who's a good broker to transfer holdings over to?
Schwabb if you arent actively trading, tdameritrade if you are. Scwabb customer service is great
Re: Robinhood cuts losses after transaction revenue drops
#10If Robinhood had to close shop, who's a good broker to transfer holdings over to?
I use TD Ameritrade because the trading tools are top notch.
But I shouldn’t be trading so look at Fidelity.