Oil prices hold sharp losses with focus on secondary India tariffs
This transaction followed an automatic conversion of Class B common stock into Class A common stock, as detailed in the filing. After the sale, Bhatt holds 5,042 shares of Class A common stock directly. The transaction was part of a strategic plan initiated by the Living Trust in August 2024. With Robinhood (NASDAQ:HOOD)’s market capitalization now reaching $47.24 billion and its next earnings report due on February 12, 2025, investors seeking deeper insights can access comprehensive analysis and 12+ additional ProTips through InvestingPro’s detailed research reports. With Robinhood’s market capitalization now reaching $47.24 billion and its next earnings report due on February 12, 2025, investors seeking deeper insights can access comprehensive analysis and 12+ additional ProTips through InvestingPro’s detailed research reports.
This transaction followed an automatic conversion of Class B common stock into Class A common stock, as detailed in the filing. After the sale, Bhatt holds 5,042 shares of Class A common stock directly. The transaction was part of a strategic plan initiated by the Living Trust in August 2024.
In other recent news, Robinhood has expanded its platform for UK investors by launching options trading, a move that reflects the growing retail investor interest in alternatives to traditional stock trading. The platform’s approach to options includes both "calls" and "puts", allowing investors to buy or sell an asset at a set price within a certain period. To access options trading on Robinhood, UK customers must pass an appropriateness test, demonstrating sufficient experience and knowledge.
In other related developments, Mizuho (NYSE:MFG) Securities raised its price target for Robinhood shares to $65.00 from the previous target of $60.00, while maintaining an Outperform rating. This adjustment came after Mizuho conducted a survey among Robinhood users to assess their interest in using the trading app for sports betting.
However, Robinhood had to suspend its newly launched Super Bowl betting feature in response to a request from the Commodities and Futures Trading Commission (CFTC). The company had initially rolled out the betting feature to approximately 1% of its customers. This suspension coincided with the CFTC’s investigations into Crypto.com and Kalshi over their offerings of Super Bowl event contracts to determine compliance with derivatives regulations.
Despite the setback, Robinhood plans to continue its collaboration with the CFTC as it works towards launching a more comprehensive event contracts platform later this year. These developments are part of Robinhood’s ongoing efforts to diversify its offerings and increase its customer base.
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