The Number of Traders on Robinhood Increased in 2021
A Robinhood spokesperson said that in the first quarter the number of investors on the platform exceeded 9.5 million, while in the fourth quarter of 2020 the number of traders was only 1.7 million
There is a more than five-fold increase in interest. And the trend is largely due to the hype around GameStop, provoked by the Reddit community.
Recall that without fundamental reasons, pushed by retail interest, FOMO and shorts, the value of GameStop shares increased at a record in 2021.
In less than a month of the new year, the price tag rose by 685%. In just 24 hours (January 26th), the growth was 92.7%. And then investors massively lost funds against the background of high volatility. The sums were in the billions.
The platform was forced to stop trading volatile assets. The situation has also come to the attention of regulators. Now there are rumors that the epic GameStop wants to film just in time.
This will serve as an additional advertising Robinhood and help to eliminate the consequences of reputational impact. It is also known that the company does not plan to add new cryptocurrencies. According to management, it is important to avoid a repeat of the situation similar to the incident with GameStop.
You can get more information, register and start trading on OkCoin.
The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.