Robinhood expands crypto efforts with $200M purchase of Bitstamp [FOX Business Network]
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Robinhood Markets, Inc. - Class A (HOOD)
Company Research
Source: FOX Business Network
Robinhood Markets revealed Thursday it will purchase Bitstamp. In a press release, the company said it expects to pay about $200 million in cash as part of the deal to become the owner of the cryptocurrency exchange. It is aiming to complete the acquisition sometime in the first six months of next year. The deal comes as Robinhood works to boost its international footprint and expand into institutional business offerings. The company highlighted Bitstamp's more than 50 active licenses and registrations around the world and to its base of customers in Europe, the U.S. and Asia, saying it will "significantly accelerate" global growth of its crypto arm Robinhood has experienced major gains in the sector, reporting a 224% year-over-year increase in crypto notional trading volumes in the first quarter. Its Robinhood Crypto unit is facing a Wells Notice from the Securities and Exchange Commission , according to a regulatory filing. Vlad Tenev, the CEO and co-founder of Robinhood,
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News
- Robinhood upgraded to Outperform at Wolfe on case for strong EPS growth [Seeking Alpha]Seeking Alpha
- Robinhood Markets, Inc. (NASDAQ: HOOD) was upgraded by analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating. They now have a $29.00 price target on the stock.MarketBeat
- Robinhood Markets, Inc. (NASDAQ: HOOD) was upgraded by analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating. They now have a $29.00 price target on the stock.MarketBeat
- Robinhood Markets, Inc. (HOOD) Just Overtook the 20-Day Moving Average [Yahoo! Finance]Yahoo! Finance
- Robinhood Markets, Inc. (HOOD) is Attracting Investor Attention: Here is What You Should Know [Yahoo! Finance]Yahoo! Finance
HOOD
Earnings
- 5/8/24 - Beat
HOOD
Sec Filings
- 6/24/24 - Form 4
- 6/20/24 - Form 144
- 6/6/24 - Form 4
- HOOD's page on the SEC website