Wall Street Horizon

Daily Average Fugazi’s: Robinhood Postures for IPO

"Name of the game? Move the money from your client's pocket into your pocket. Number one rule of Wall Street: Nobody knows if the stock is going up, down, sideways or in ... circles. It's all a fugazi..." - Mr. Hanna, Wolf of Wall Street On Monday, August 10 at exactly 11am EDT (you know, after the opening bell was safely in the rearview mirror), Robinhood Markets, Inc. - the anti-incumbency insurgent trading app platform and self-proclaimed democratizer of all things financial - set out to dominate the week's financial news cycle by enticing media powerhouse, Bloomberg, to drop a news bomb into an ecosystem already negligently over-stimulated on the topic: "Robinhood Blows Past Rivals in Record Retail Trading Year." One piece of data was exclusively revealed to Bloomberg at the center of this story: 4.31 million daily average revenue trades - commonly known as DARTs (and generally defined as customer orders executed divided by trading days) - were recorded in June with the additional explanation that "the firm is [...]

By | 2020-08-13T00:19:35-04:00 August 13th, 2020|Alphacution Feed|