RobinHood gives 5% interest on uninvested cash!

[Baron]

If I'm not mistaken, I think that HOOD has only made money during the quarter ending in Q3 2023, and has posted losses in every other quarter since inception.

That's over 10 years of nothing but losses. They claim 23.5 million customers, over $100 Billion in managed assets, and THEY HAVE MADE NO MONEY since they started. Either that business is just a terrible business to get into, or their business model needs some serious adjustments, or they need a major management overhaul.

In light ot that, I wouldn't be comfortable parking any cash with them, regardless of the interest they claim they will pay.

 

[2rosy]

fidelity offers 4.98 now. it was over 5% at one point

 

[BlackPhoenix]

If I'm not mistaken, I think that HOOD has only made money during the quarter ending in Q3 2023, and has posted losses in every other quarter since inception.

That's over 10 years of nothing but losses. They claim 23.5 million customers, over $100 Billion in managed assets, and THEY HAVE MADE NO MONEY since they started. Either that business is just a terrible business to get into, or their business model needs some serious adjustments, or they need a major management overhaul.

That's the Twitter business model: They are just waiting for Elon to buy them and he'll also take care of the overhaul.

 

[Cabin1111]

I made some money off of HOOD...The quarter they showed their profit I think.

Here was the thread...https://www.elitetrader.com/et/thre...barrassed-to-post-here-yesterday-hood.371001/

The one hit wonder (profit)...I bought, then did a covered call. There are very few stocks I want called away over my lifetime. HOOD was one of them!!

I keep my assets in bigger banks and at Schwab, Fidelity, T. Rowe Price. I do not want to have to deal with FDIC or SIPC. They have never REALLY been tested. Test them on someone else...Let me sleep well at night.

 

[murray t turtle]

I made some money off of HOOD...The quarter they showed their profit I think.

Here was the thread...https://www.elitetrader.com/et/thre...barrassed-to-post-here-yesterday-hood.371001/

The one hit wonder (profit)...I bought, then did a covered call. There are very few stocks I want called away over my lifetime. HOOD was one of them!!

I keep my assets in bigger banks and at Schwab, Fidelity, T. Rowe Price. I do not want to have to deal with FDIC or SIPC. They have never REALLY been tested. Test them on someone else...Let me sleep well at night.

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LONG way way from ATH of $85\
off muddy bottom of 6-$7+ above 200dma.
Hard to figure out why anyone would name a co ,Robbing-Robin Hood LOL, but that'$ better than KKK hoods LOL