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Trading app Robinhood unveils maiden stock buyback plan of $1 billion
Robinhood Markets launched its first-ever share buyback plan to repurchase $1 billion worth of stocks, signaling maturity and growth beyond its startup phase.
GameStop, AMC drop after two days of sharp rally on 'Roaring Kitty' effect
Cinema chain AMC dropped 14.3%, after surging 135% in the past two sessions, while video game retailer GameStop fell 9.8% after hitting its highest level since June 2021 on Tuesday. Trading in the retail investor darlings, the most actively traded NYSE stocks, were halted minutes after the market opened.
Tensions rise in Silicon Valley over sales of startup stocks
Tensions over the shadowy and often enigmatic market of private company stocks have reached a boiling point, just as the buying and selling of such shares has grown bigger than ever. At its center is an age-old debate: Should everyone have access to the riches and risks of investing in Silicon Valley startups?
Small investors starting to tiptoe back into crypto
At the biggest US crypto exchange, Coinbase Global Inc, net consumer transaction revenue rose 60% in the fourth quarter from the year-ago period, and 80% over the third quarter, according to shareholder letter released Thursday. At Robinhood Markets Inc., which reported on Tuesday and is focused on retail users, crypto notional volumes in December jumped by 242% from a year ago, the company said.
Young India, women are missed opportunities. We have to start speaking their language: Radhika Gupta
Radhika Gupta says: "Young India is a little bit of a missed opportunity. And we have to start speaking the language of young India. I think women are a missed opportunity. Finance is still very technical. Most people's worry is how do I start? And we have to position mutual funds as simple problem solvers. Nobody wakes up thinking I want a flexi cap fund today. I want a large and mid cap fund. People do not know what these things mean."
Robinhood launches commission-free crypto trading in EU
Trading app operator Robinhood Markets Inc said on Thursday it has launched commission-free crypto trading to customers in the European Union.
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Robinhood sees $100 million costs tied to regulatory issues in third quarter
The company has had several run-ins with regulators. It was also at the center of the "meme stock" trading frenzy in early 2021, when a group of retail investors on social media bought shares of highly-shorted stocks such as GameStop.
Fintech firms may struggle to find investor love in rebounding US IPO market
Activities related to initial public offerings (IPO) in the United States came to a standstill for more than a year as the U.S. Federal Reserve's aggressive monetary-tightening policy sucked out easy money from the system.
Digit Insurance files for Rs 5,000 crore IPO; Tiger slashes portfolio to the bone
Digit's IPO plans come at a time when tech stocks have dipped owing to worsening macroeconomic conditions.
Sam Bankman-Fried's FTX says no talks to acquire Robinhood
"There are no active M&A conversations with Robinhood," Bankman-Fried said in an emailed statement."We are excited about Robinhood's business prospects and potential ways we could partner with them."
Robinhood agrees to settle customer lawsuit over 2020 outages
The lawsuit in San Francisco alleges Robinhood outages caused users to lose money when they could not trade. The users accused Robinhood of negligence, breach of contract, violating California's fair business laws and other claims.
Robinhood, US financial services firm, fires 9% of its full-time employees
US brokerage company Robinhood on Tuesday announced that it was cutting 9% of its fulltime workforce. The news has resulted in a decline of 5% in the company's shares in extended trading.
400% in 1 year! Narayan Gangadhar of Angel One on plans to penetrate Tier II & Tier III cities in FY23
"Our wide range of digital products has fostered greater participation from new-age investors, especially the tech-savvy GenZ and Millennials. At present, our clients belong to 98% of all PIN codes in India. We recently launched a campaign with TVF called 'Bike Ki Chori', which was well received by the audience. Its objective was to raise young investors' awareness of the importance of investment expense management, encouraging them to be a part of the capital market."
In win for Robinhood, judge declares Massachusetts investment advice rule invalid
The Massachusetts rule went beyond a standard the U.S. Securities and Exchange Commission adopted in 2019 by requiring broker-dealers have a fiduciary obligation to provide investment without regard to the interests of anyone but their customers.
Robinhood shares stumble as trading frenzy wanes, regulators circle
Rising interest rates will probably push investors into safer assets, and many could cut positions in stocks or crypto. That could mean less trading for retail investors, the core of Robinhood's customer base.
Robinhood app hit by data breach exposing users' emails, names
The Robinhood data breach took place late on Nov. 3, with the hacker snatching about five million email addresses, along with names of about two million other users using a technique called "social engineering".
India’s Robinhood investors are riding the bull run, can they help sustain it?
Along with the doubling of the Sensex since the Covid-19 lockdowns started in March last year, a new wave of investors has arrived on Dalal Street, helped by commission-free trading apps, and pushed by a pandemic that forced earners to stay at home.
Zerodha’s Nithin Kamath cautions investors on crazy valuations of brokerages
“I am pessimistic about the valuations of brokerages around the world, including that of Zerodha. This is because the performance of broking is directly tied to market performance. If people aren’t making money or there is no greed, activity usually drops off a cliff,” Kamath said
Robinhood reveals breakneck growth, legal pitfalls in IPO filing
The company, under scrutiny after this year's trading frenzy for so-called meme stocks such as GameStop, is aiming for an IPO valuation of over $40 billion, Reuters has reported.
What’s keeping Big Bull’s protégé Atul Suri awake at night
He is afraid of the Robinhood investors in the market, whose rising presence in the Indian stock market is making it difficult for Suri to get a peaceful sleep at night.
Market Movers: High beta stocks get a drubbing as Robinhoods have a mini panic attack
The smallcap index slumped 1.4 per cent as retail investors rushed for exit fearing that their party had finally come to an end. Only time will tell if that’s the case.
GameStop boosts teen interest in investing: Survey
About 45% of teens said "the GameStop social media situation" boosted their interest in investing with 53% of boys claiming increased interest and 40% of teen girls, according to Wells Fargo.
India’s party talk is changing; D-Street is loving it, Sebi isn't
Brokerage apps like Robinhood in the US and Zerodha in India have made investing in the stock market a seamless experience for Millennials who seek comfort.
Robinhood to allow users to buy into IPOs, ahead of its own listing
The online brokerage startup is rolling out in phases its investing platform, Robinhood IPO Access, for users of its trading app, a step in its quest to "democratise" finance.
Crypto Dogecoin soaring, crashes Robinhood token trading
Other so-called altcoins also took off, with Dash spiking as much as 14% and Ethereum Classic jumping more than 30%.
Robinhood CEO's US lawmaker grilling spotlights broker's hidden risks
Tenev reiterated in the hearing on Thursday his prior explanation for the move, saying it was dictated not by hedge funds but by a requirement that Robinhood come up with an additional $3 billion in collateral to guarantee customer trades.
Robinhood to allow customers to deposit, withdraw cryptocurrencies
The trading app popular with young investors currently allows customers to buy, sell and hold cryptocurrencies such as Bitcoin on its platform, but users cannot withdraw their assets to transfer to other wallets.
Robinhood's lucrative options-trading platform attracts mounting scrutiny
Robinhood Markets’s options-trading platform, barely three years old, is charting a meteoric rise in the Covid-19 pandemic, establishing the firm as the venue of choice for throngs of retail investing enthusiasts.
From broker notes to memes: how the stock market went viral
The tongue-in-cheek meme, designed to characterise bullish stock market sentiment when news of Pfizer BioNTech’s successful COVID-19 vaccine broke, has been viewed more than 1 million times on Instagram and Twitter.
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