Redd Journalism: Robinhood Releases Futures Trading 10-16-24
For Paul & Doctors of Journalism:
— Robinhood adding futures and index options trading to its app, debuting Robinhood Legend, a desktop platform for more advanced users.
— Featuring Futures for S&P 500, oil, and bitcoin at first.
— $0.50 or $0.75 per contract depending on Gold versus normal user, respectively.
— Robinhood Legend targets (allegedly) more sophisticated investors with customizable charts, aiming to rival platforms like Fidelity and Interactive Brokers.
— $HOOD up 110% YTD
— Q2 revenue $682 million, a 40% increase YoY; net earnings surged to $0.21/share from $0.03.
With Ballin Like I’m Kobe refreshed in my mind and forward-looking statements hitting the YouTube screen, Robinhood unveiled whatever they were revealing to me on October 16, 2024 — the day of our lord. Or your lord. It’s 2024, all good.
Very promptly might I add. Unlike American football or sports. They say start time 6:30 they mean 7:10. Rude. Everybody does keynotes now eh.
Vlad asks the crowd who is dissatisfied, and then puts some negatives tweets up. Very disarming tactic, Vlad; big market, the disarming market.
Margin rates lowest. Option simulated returns — actually helpful. Realized P&L + tax lot management. Joint investing accounts (optional, so you can hide how much you losing from your wife).
Index options and… (I say, “oh no dude,” in anticipation of hearing the big double chocolate chunk boom:)?? futures! ??
$0.50 or $0.75 per contract depending on Gold versus normal user, respectively.
It’s quite something to see a financial services company keynote a product that already exists… and like fundamentallyexists in the sector.
But I have to say Robinhood is a pivotal product for a lot of young investors. That mobile app reached a lot of people. It reached me when I bought some train stock because I was watching the rails in Tucson.
Robinhood made it easy to buy Uber and Solar City.
More importantly, it’s easy to give them your money on their platform.
A lot easier than Schwab. A lot easier than Vanguard. Even the olds in the back of the Barron’s on the Opinion Page complain about Vanguard.
I’ve seen companies get their whole bag off of UX. In the crypto days, “pretty website” was the selling point. And still is.
Robinhood’s design made it easy for a lot of people to trade a bunch of random half-a-minute expiration options on some weird biotech companies, and of course some s-coins, god bless.
Having a keynote for a desktop brokerage is objectively funny.
It will also probably make them more money.
Don’t blow up the futures spot, I just got comfy.
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4 个月??With 24.3M funded customers and $144B in assets under custody, Robinhood's growth is undeniable. =>But will its expanded product offerings: ?? Increase competition and drive down fees? ?? Attract more experienced investors or alienate its core user base? ? Spark regulatory scrutiny? ?? Robinhood's Power Play: Disrupting Traditional Brokerages? Robinhood's latest move to woo sophisticated investors with Robinhood Legend raises questions: ? Is this the end of traditional brokerages as we know them? ?Can Robinhood's commission-free model disrupt the status quo? ? Will Robinhood's disruption benefit or harm the industry? ?Can traditional brokerages adapt to the changing landscape? #Fintech