As problems mount with the practice popularized by Robinhood, a USC finance professor argues the alternative may be worse.
The second quarter of 2021 is the first time where a larger share of new Robinhood customers placed their first trade in crypto rather than equities.
Robinhood may not have had its IPO ‘pop,’ but retail investors are buying the dip, showing that market confidence for the trading app is high.
The S-1 form revealed bitcoin grew 575% on the trading platform from about $8 billion in February 2018 to $54 billion in March 2021, Robinhood said.
The brokerage plans $100 million in revenue from the public offering and plans to allocate between 20% and 35% of shares to the platform’s retail customers.