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.

Kroger and Albertsons to Sell More Stores in Attempts to Get Merger Approval

Kroger and Albertsons have announced plans to sell more stores in an attempt to get the green light for their $25 billion merger. Kroger reached...

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...