Robinhood, yes the trading app, is set to go public. What do ya'll think about think company and its' long-term potential? I think they are another company that benefited greatly from the governments response to the pandemic aka stimulus money, unemployment, and lockdowns.
Ah RobinHood! They definitely got a lot of heat from the GME debacle, but there is no denying that they brought in an entire generation of new traders to the markets which is a good thing!
I think one bubble that is getting ready to bust is the investing bubble. I dont think Robinhood so much brought in a generation of traders as the combination of cryptocurrencies, millions of people having excess money and nowhere to spend it, and the pandemic drove people to look for things to do with their money or other means of generating profit. Ive said it and I will say it again, I think we are going to continue to see retail traders exiting the market with it popping sometime around Labor Day. I think HOOD needs to evolve into something more.
RH gamified the act of buying and selling, I know its cool to hate on them, but as a business they are making some crazy profits!
I dont hate on Robinhood, in fact, I like them. Granted I was not a member or in anyway involved when they restricted trading on AMC and GME. Had I owned stock in one of those companies and wanted to sell to cash out and not been able to, I would have lost my mind.
Even though public opinion took a hit with AMC and GME, they are still what the casual traders know. In boxing, the most popular fighters have fanbases made up almost entirely of casual fans. This stock will do well short term, but I agree that they need to evolve to stick around.
Through offering more crypto, mutual funds, perhaps even DEFI related issues, they can continue to stay very relevant.
$29B market cap, trading was not bad, went sideways. https://www.cnbc.com/2021/07/29/robinhood-hood-ipo-stock-starts-trading-on-the-nasdaq.html
I bought a couple positions for shits n gigs. Do not plan on holding long-term. Hoping for a pop early next week. I need to find a fucking j-o-b. I got absolutely fucked by Medioh, Inc. /Hypertec
I think HOOD is an absolute crock of crap and would never put one penny into them. I much prefer SOFI in the credit / investing sector even though that's a meme stock. They have held the $15 support level multiple times and I'd rather stick money there.
word of the day ----- cir·cum·spec·tion /ˌsərkəmˈspekSH(ə)n/ Learn to pronounce noun the quality of being wary and unwilling to take risks; prudence. "circumspection is required in the day-to-day exercise of administrative powers"
