Great Tech Firms · Internet & AI
Robinhood
Zero-commission trading, payment for order flow, gamification, the January 2021 GameStop halt caused by clearinghouse margin calls, the IPO, and the push into crypto, retirement and banking.
Step 1 of 4 · Overview25 min read ·
Key idea
Prereqs: Market structure; Ken Griffin (Citadel Securities). Next: Case: Robinhood (HOOD) equity analysis. Sources: SEC Staff Report on Equity and Options Market Structure, Early 2021 (Oct 2021); Robinhood S-1 (2021) and 10-Ks.Next: 1. The model