Mentioned:
Robinhood is coming after the wealth management business next. And they’re off to an explosive start.
What’s happening:
- Robinhood's (NASDAQ: HOOD) automated investing platform Robinhood Strategies has surpassed $1B USD in assets under management
Why it matters:
- Over 180,000 Robinhood users have begun using Robinhood Strategies since it was initially launched
Going deeper:
- Robinhood Strategies uses a mixture of algorithmic portfolio construction focused on both ETFs and individual stocks as well as human oversight and rebalancing that is done by Robinhood
- Robinhood has been rapidly rolling out new product features lately, including notably embracing prediction markets through their new partnership with Kalshi and preparing to launch a fund on the New York Stock Exchange to give retail investors access to private venture backed companies
