Robinhood Markets Inc - HOOD

Back to $70 please then I can sell and get my money back :sob:

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I hadn’t realised they were sitting on so much cash. When this beat down on the NASDAQ is over I’ll be very interested in Robinhood.

They have more cash than their market cap, now I get this isn’t a value investor darling because they’re not yet in profit but will be.

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RH announced laying off 9% of their workforce

https://uk.news.yahoo.com/robinhood-cutting-9-full-time-205703540.html

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At these valuations Robinhood should be acquired by Block or PayPal and rolled into the beginning of a super app.

I don’t think it can be done easily as they have dual class shareholders who can stop it

Interesting they released this days before the trading update which is happening tomorrow.

Looking forward to updates on their plans for international crypto rollout, retirement accounts, so IRA, Roth, etc, and the fully paid securities lending product which will let customers earn a passive income by lending out stock.

It’ll also be great to see how much their crypto AUM has grown. It was like 8% of what Coinbase has which is impressive given how Robinhood was light touch Crypto. Anyway, it will be good to see how quickly they grow that in the next few quarters with the rollout of their Crypto Wallets and expanding Crypto products.

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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.

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:grimacing:

Q1 2022
Revenues declined 43% vs Q1 2021
Net Loss of £392m

Its not looking well…

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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.

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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.

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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”.

https://jnews.uk/robinhood-revenues-tumble-as-retail-trading-loses-steam/

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Robinhood launch stock lending.

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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.

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I think it a good idea I wounder if freetrade will do the same :crossed_fingers::crossed_fingers:

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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.

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Exactly this what I really wanted - Some shares to take the risk

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FTX is becoming a direct competitor.

As an aside, the founder of FTX picked up a lot of HOOD shares a few weeks ago.

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Might be buying a few more, by a few more I mean all of them!

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Vlad still controls 50% of voting powers at Robinhood so he would need to be onboard with this.

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