Robinhood – the stock brokerage that gives you a free stock trading app and allows you to buy and sell stocks, options, and ETFs by phone or on your computer – is getting ready for its initial public offering (IPO). The company is planning to sell up to $1.3 billion in shares and could raise as much as $1.8 billion in the first round.
For those who don’t know it, Robinhood is a stock-trading app that enables you to buy and sell stocks, ETFs, and options without paying transaction fees. Robinhood charges a $6.95 per-month subscription fee for its services, but the company has announced that it will begin offering free trading for all users.
When Wall Street and Silicon Valley don’t see eye to eye about anything, it’s probably because they’re different concepts. Wall Street has a vested interest in making money, and if the market is too volatile, it can cause investors to lose money. Silicon Valley is more interested in making the world a better place, and if the market is too volatile, it can cause investors to lose money. While the two sides have similar underlying goals, they mean different things.After much excitement and a series of new highs for bitcoin and other altcoins, the cryptocurrency market took a big dive in May, sending investor sentiment to a new low.
While cryptocurrency markets are known for their volatility, the sheer depth to which the May 2023 collapse led carries with it a sense of devastation. The market itself, which peaked at nearly $2.6 trillion, fell more than 50% in 11 days, while bitcoin, ethereum and dogecoin plunged 31%, 47% and 43% respectively over the week.
Maxim Manturov, head of investment research at Freedom Finance Europe, believes the pandemic has driven the growth of retail investment platforms in 2023.
According to Fidelity’s report, there were 26 million retail accounts in 2023, up 17% from 2019, and daily transaction volume doubled. In the US, about 90 percent more shares were traded than in the week before the stimulus funds, Manturov said.
Finally, a Deutsche Bank survey of 430 retail investors shows that respondents plan to invest an average of 37% of their total funding in equities. Goldman Sachs recently raised its forecast for private investor demand for equities in 2023 from $100 billion to $350 billion.
Given these numbers, it’s clear that platforms like Robinhood have become popular placement sites for newcomers. With the cryptocurrency market showing many holes and a high-profile IPO on the horizon, we could see the rise of Robinhood on Wall Street paving the way for an influx of investment in currencies like bitcoin and prehecoin.
Guest article by Dmitry Spilka of Solvid
Solvid is a creative SEO, content marketing and web design agency based in London.
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After a poorly received initial coin offering (ICO) that raised $130 million last year, the Robinhood Crypto Platform, the trading platform of Robinhood Financial, has been in a rough patch. The company lost the backing of its co-founders, the co-CEOs of cryptocurrency wallet and exchange Coinbase, who took their own Robinhood-branded trading platform in a different direction. But, the prospects of a comeback remain bright.. Read more about robinhood crypto wallet and let us know what you think.
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