Robinhood shareholders: are crypto wallets coming and do we have hoodies?

NEW YORK, Aug. 17 (Reuters) – When Robinhood Markets Inc (HOOD.O) releases its quarterly financial results on Wednesday for the first time since its IPO, its retail shareholders want to know when cryptocurrency wallets will arrive and s ‘they will get branded hoodies, according to Say Technologies.

Robinhood, which said it reserved up to 35% of the shares when it debuted on the July 29 market for its users, announced last week that it was buying Say, a platform that collects questions from retail investors and allows them to interact with the companies they invest in during events like earnings calls.

On Tuesday afternoon, the main question on Say for Robinhood, with 1.6 thousand votes, was whether the brokerage was getting a crypto wallet, which would allow users to withdraw and transfer cryptocurrency to and from it. ‘other brokerage firms.

Cryptocurrency trading has fueled much of Robinhood’s recent growth, with more than 9.5 million customers trading around $ 88 billion worth of cryptocurrency on the platform in the first quarter, according to a recent one. regulatory filing. Crypto assets increased 23-fold between March 31, 2020 and the end of the first quarter of this year, according to the filing.

The second question was about Robinhood’s plans to launch the app in other countries, while the third questioned whether the company would allow users to name beneficiaries or adopt features like multiple accounts and joint accounts.

In fourth position: “As the initial investor, can we get a hat and a hooded jacket?” “

The company expects to report revenue of between $ 546 million and $ 574 million for the quarter ended June 30, up from $ 244 million a year earlier, according to an updated file.

The gain was largely due to an increase in funded accounts, as well as higher levels of options and cryptocurrency trading, offset by a decrease in stock trading, Robinhood said.

Reporting by John McCrank; Editing by Ira Iosebashvili and Steve Orlofsky

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