HomeIndustriesRobinhood App Already Showing Real-Time Profits

Robinhood App Already Showing Real-Time Profits

Last week, people were interested to learn that Robinhood had laid off 23% of its staff. This news led folks to believe that the company, known for a popular app that helps aspiring stock traders, was going through a rough patch.

However, one analyst believes that this narrative actually couldn’t be further from the truth. According to JMP Securities director of financial technology Devin Ryan, people aren’t seeing Robinhood for the major player that it is.

“People were pushing back that this company can’t be profitable,” he said. “And what we talked about, following earnings and some time with management, is I think they’re actually already profitable in real-time right now.”

Ryan’s testament suggests that people are missing the forest for the trees when it comes to the welfare of Robinhood. But why is it that people aren’t seeing it like him? Perhaps it’s because the company reported an unfortunate $295 million net loss in quarter two.

On the surface, when taking into account these cold, hard numbers, it makes sense that others would be skeptical. And yet, Ryan’s claims urge us all to see the big picture—and encourage us to wonder if there’s actually a brightly shining diamond amidst the confusion surrounding Robinhood’s growth.

Weekly Jobless Claims Decline As Job Market Remains Tight

The latest U.S. weekly jobless claims report showed that the number of Americans filing new claims for unemployment benefits went down this week. This...

Global Central Banks Continue Rate Hikes Amid Banking Crisis

Multiple central banks across the globe implemented interest rate hikes this past week as policymakers look to advance the fight against inflation amid the...

U.S. Futures Up, European Stocks Lower Amid Growing Expectations Of Fed Rate Cut

U.S. futures edged higher on Thursday following bets that the Federal Reserve would cut interest rates in the near term. In contrast, European stocks...