@RLX Absolutely! It’s now obvious that this settlement been the final legal hurdle that was holding the IPO back - a few hours after it was official they announced the IPO.
Yet, there are so many problems ahead - more than 50 class actions are pending and at least 7 Regulatory investigations (reading from @Karena’s link). Take a look at the reaction of Elizabeth Warren: https://twitter.com/SenWarren/status/1410355305389645829
A huge amount of the S-1 filing was dedicated to how Robinhood has learned from its lessons. As if its future is all about not repeating the past.
Honestly, I’m not optimistic about their long-term growth. They imply the interest from retail will continue to grow after the pandemic and they are setting expectations for expansion in Europe and Asia. And we know they can’t have the sweet payment-for-order-flow revenue here in the UK, and there’s Trading 212 Speaking of, the securities lending consisted of just 7% of Robinhood’s last quarter revenue, but it is growing. With the absence of PFOF in the UK, I now see an fx fee totally justified.
What does Robinhood look like in a bear market, or even after the current boom? We have no idea.
@Karena Very interesting. What amazed me is their “cash cushion” - $4.8bn Furthermore, they could be holding about $4bn worth of Dogecoin… that’s about 7% of all the coins in circulation. Who’s the true ‘Dogefather’ now - Elon, or Vlad?