The post Alphabet Sells Almost 90% of its Stake in Robinhood appeared first on theprimarymarket.com.
]]>Alphabet initially invested in Robinhood during the trading platform’s startup days and held close to 4.9 million shares back in March. After ditching most of its holdings, the company’s stake in Robinhood is now down to 612,214 shares, which are worth around $7 million.
In a recent earnings release, Robinhood announced it had recorded its first profitable quarter since going public. However, the company is struggling to keep active users on its app, having 10.8 million monthly active users in Q2 compared to 11.8 million in Q1. The number is also significantly down from almost 14 million monthly active users in the same period last year.
Robinhood’s Chief Financial Officer Jason Warnick acknowledged weakening trading activity during an earnings call but said that the company is aiming to counter it by finding “new revenue streams.”
Robinhood’s shares dropped 2.25% on Friday, closing at $11.28. The company’s stock is still almost 40% up year to date.
The post Alphabet Sells Almost 90% of its Stake in Robinhood appeared first on theprimarymarket.com.
]]>The post Robinhood App Already Showing Real-Time Profits appeared first on theprimarymarket.com.
]]>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.
The post Robinhood App Already Showing Real-Time Profits appeared first on theprimarymarket.com.
]]>The post Alphabet Sells Almost 90% of its Stake in Robinhood appeared first on theprimarymarket.com.
]]>Alphabet initially invested in Robinhood during the trading platform’s startup days and held close to 4.9 million shares back in March. After ditching most of its holdings, the company’s stake in Robinhood is now down to 612,214 shares, which are worth around $7 million.
In a recent earnings release, Robinhood announced it had recorded its first profitable quarter since going public. However, the company is struggling to keep active users on its app, having 10.8 million monthly active users in Q2 compared to 11.8 million in Q1. The number is also significantly down from almost 14 million monthly active users in the same period last year.
Robinhood’s Chief Financial Officer Jason Warnick acknowledged weakening trading activity during an earnings call but said that the company is aiming to counter it by finding “new revenue streams.”
Robinhood’s shares dropped 2.25% on Friday, closing at $11.28. The company’s stock is still almost 40% up year to date.
The post Alphabet Sells Almost 90% of its Stake in Robinhood appeared first on theprimarymarket.com.
]]>The post Robinhood App Already Showing Real-Time Profits appeared first on theprimarymarket.com.
]]>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.
The post Robinhood App Already Showing Real-Time Profits appeared first on theprimarymarket.com.
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