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How much money has Robinhood lost?
In its first earnings report as a public company, Robinhood said its revenue for the second quarter soared to $565 million, up 131 percent from the same period last year. It also lost $502 million, compared with a profit of $58 million a year prior.
Does Robin Hood take money?
How does Robinhood make money? Robinhood markets itself as a “free” app because users can set up a free account with no minimum investment. Users won’t pay annual fees, inactivity fees, ACH transfer fees, commission fees, and other costs common to some other brokerage firms.
Why is Robinhood dropping?
Robinhood said the declines were due in part to a downturn in cryptocurrency-related trading activity. The company’s crypto transaction-based revenue fell to $51 million, down from $233 million in the second quarter.
Over 49 million shares were sold during the first 30 minutes of trading. On its first trading day, the Robinhood stock price reached an intraday high of $40.25 and intraday low of $33.35. Shares ended the session at $34.82, giving Robinhood a market capitalisation of about $29bn.
How much money has Robinhood raised since its IPO?
Since 2017, Robinhood Markets has raised $5.6bn in a series of funding rounds, with the latest in February 2021. In its initial public offering (IPO) on 28 July 2021, the company sold 55 million shares priced $38 each, raising $2.1bn. Co-founders Tenev and Bhatt each sold about $50m worth of stock.
Is Robinhood regulated by the SEC?
Robinhood Markets, Inc. (HOOD) is an American financial services company based in Menlo Park, California. It is a Financial Industry Regulatory Authority (FINRA)-regulated broker-dealer registered with the US Securities and Exchange Commission (SEC), and a member of the Securities Investor Protection Corporation (SIPC).
What types of stocks does Robinhood support?
Robinhood supports trading of more than 5,000 stocks, including most equities and exchange traded funds (ETFs) listed on U.S. exchanges; options contracts; cryptocurrencies such as Bitcoin and Ethereum; and American Depositary Receipts (ADRs) for more than 650 globally-listed companies. 8