"We think retail investing is a trend that's here to stay. If you look at the data, the growth in retail actually started years before we launched. Our contribution has really been to accelerate the process," said Robinhood CFO Jason Warnick.
During the live roadshow, Robinhood co-founders, Chief Executive Vlad Tenev, chief creative officer Baiju Bhatt and chief financial officer Jason Warnick, pitched the company's long-term value and juggled questions from a pool of 2,000 about retail investing, payment for order flow, revenue diversification and more. Tenev even took a question about his favorite planet, which is Venus., Robinhood — which expects to have 22.
Executives fielded several questions about Robinhood's source of revenues, which is about 75% from the money brokerage firms receive for directing clients' trades to market makers, or payment for order flow. Warnick said Robinhood receives an average of 2.5 cents for every $100 traded. Tenev also added that clients traded an average of 7 times per day in 2020.
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Source: Reuters - 🏆 2. / 97 Read more »