Robinhood is turning into a super app. In their last earnings call they said they are working on a spend and save product which will focus on day to day spending. Then there’s the stuff I mentioned above and more I don’t even recall.
Revenues declined 43% vs Q1 2021
Net Loss of £392m
Its not looking well…
Q1 2021 would be hard to compete with given that’s when WallStreetBets was doing its thing.
Robinhood saying they won’t issue guidance anymore is a bad look.
That’s a terrible look, like analysts won’t just do the calculations out for them with incomplete data so now they’ve lost their own narrative.
From the FT:
“The results came as retail brokerages that experienced a pandemic-driven boom have reported a pullback from retail investors compared to 2021. Uncertain markets, rising interest rates, lack of fiscal stimulus, return to pre-lockdown routines and inflation, which is squeezing households’ bottom lines, have contributed to investor reticence about investing”.
Robinhood launch stock lending.
They’re doing it the right way too. It’s completely optional, can be turned off at any time, and the customer gets some revenue in return for taking the risk.
I think it a good idea I wounder if freetrade will do the same
On the last earnings call Robinhood said “…we recently entered into an agreement to acquire Ziglu for $170 million, primarily in cash.” That’s a nice uplift from the last Seedrs raise in September 2021.
Exactly this what I really wanted - Some shares to take the risk
FTX is becoming a direct competitor.
As an aside, the founder of FTX picked up a lot of HOOD shares a few weeks ago.
Might be buying a few more, by a few more I mean all of them!
Vlad still controls 50% of voting powers at Robinhood so he would need to be onboard with this.
Gawd bless founder-weighted dual-class share structures!
May U have the best cake day so far
Send us a slice
I didn’t notice that! That’s @Raul any excuse for cake!
The company also dropped its earnings report for the second quarter, which showed a decline in monthly active users and assets under custody.
This isn’t a good look either:
This is probably a worse look