NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Robinhood stock to go ‘higher’ after report the SEC won’t ban PFOF

by September 22, 2022
written by September 22, 2022

Robinhood Markets Inc (NASDAQ: HOOD) investors were relieved on Thursday after a report said the U.S. Securities and Exchange Commission may not execute the much-feared ban on payment for order flow.

Capital Alpha analyst reacts to the news

That’s a massive positive for brokerages like Robinhood that generated the most of their revenue from payment for order flow. Reacting to the news, Ian Katz – Analyst at Capital Alpha said:

That’ll be a relief to brokerages particularly Robinhood but not a surprise. As we’ve noted since late last year, the much-feared ban probably won’t materialise at all, and if it did, it would be after several other market structure steps are taken first.

Last month, Robinhood cited macro headwinds and the related hit to cryptocurrencies as it announced plans of trimming its headcount by 23%. (link)

Its financial results for the second quarter, however, still came in better than expected. “Hood” is currently down about 50% for the year.

Should you buy the Robinhood stock?

On the flip side, the Bloomberg report did say the regulator will likely announce “other” changes to make payment for order flow less profitable. Still, Jim Cramer on CNBC’s “Squawk on the Street” dubbed it a positive catalyst for Robinhood.

This is a stunning victory for Robinhood because this is how they make their money. They’re not making a lot of money on custody. So, the stock goes higher; higher than this certainly.

So, it may be a good idea buying Robinhood stock here.

Both SEC and the financial technology company are yet to make an official comment on the stock market news.

Robinhood lost 1.9 million monthly active users in its latest reported quarter and was fined $30 million last month by the New York State Department of Financial Services.

The post Robinhood stock to go ‘higher’ after report the SEC won’t ban PFOF appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
How To Create A Healthy Workspace Using IoT?
next post
Block shares are unlikely to recover anytime soon: Dan Dolev

You may also like

A top Wall Street analyst says this EV...

January 31, 2023

Employment cost index undershoots expectations; Labour costs likely...

January 31, 2023

Key wage inflation measure eases in Q4: don’t...

January 31, 2023

Weekly markets TL;DR: Massive week ahead for stocks,...

January 31, 2023

Scottish Mortgage Trust share price headwinds put recovery...

January 31, 2023

IMF projects global growth at 2.9%; Disinflation to...

January 31, 2023

Chinese PMIs spark to life after covid restrictions...

January 31, 2023

Should you buy Apple shares ahead of its...

January 30, 2023

Mercedes-Benz just beat Elon Musk’s Tesla in its...

January 30, 2023

Amid recessionary fears, Texas manufacturing disappoints for the...

January 30, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 3

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • A top Wall Street analyst says this EV stock could cut in half this year

    January 31, 2023
  • Employment cost index undershoots expectations; Labour costs likely peaked

    January 31, 2023
  • Key wage inflation measure eases in Q4: don’t be ‘too bullish’ on stocks

    January 31, 2023
  • China: House Divided

    January 31, 2023
  • Markets Aid Rhino Survival

    January 31, 2023

Categories

  • Economy (600)
  • Editor's Pick (232)
  • Investing (1,587)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick