So, Vlad Tenev, it's SoFi or Goldman Sachs, pick your poison.
Shares of the popular retail broker HOOD, +9.65% are down 28% so far this year, even after a monster rally on Friday, raising the question as to whether the company that has billed itself as democratizing investing is losing considerable traction among the proletariat.
The company’s rosy outlook also is shared by four of the 14 analysts who cover the financial technology platform, assigning “Buy” ratings on the stock, which did bounce 9.7% off its all-time lows on Friday. And when it comes to those retirement accounts, who is Robinhood’s target audience? Weren’t they originally aiming for a less geriatric demographic?
Others see Robinhood’s decision last year for what it was: a reaction from a mega-startup utterly unprepared to reckon with what their brand of democratized investing could do to the masses and ultimately the stock market. And on the crypto front, companies such as Coinbase COIN, +4.34% are a clear sign that the competition is pretty stiff in that category.
We’ve conjectured on how San Francisco based personal finance platform SoFi Technologies SOFI, -2.29% should take a hard look at grabbing Robinhood’s customers and its $3 billion cash on hand at a discount, but we’re also still banging the drum on Goldman Sachs GS, +1.75% doing more than just grabbing M&A fees for its former employee and current SoFi CEO Anthony Noto.
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