Brokerages jump on report SEC stops short of banning PFOF deals [Reuters]
Robinhood Markets, Inc. - Class A (HOOD)
Company Research
Source: Reuters
Securities and Exchange Commission (SEC) will stop short of banning payment-for-order-flow (PFOF). The SEC may still enact other changes that make the practice less profitable, Bloomberg News reported on Thursday, citing people familiar with the matter. The regulator had mulled over the controversial practice for months that critics believe creates conflicts of interest. ( https://bit.ly/3LwinJn Retail brokers route most customer orders via wholesale brokers than exchanges, as wholesalers generally offer a slightly better price. Most retail brokers also accept rebates, or payments, from wholesalers in lieu of orders. read more Shares of Robinhood Markets Inc , which makes around 75% of its revenue from PFOF, climbed 5%, while Virtu Financial (VIRT.O) added 9%. PFOF drew new scrutiny last year when an army of retail investors went on a buying spree of "meme stocks" like GameStop (GME.N) and AMC (AMC.N) , squeezing hedge funds that had shorted the shares. Many investors had pu
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HOOD
News
- This Is Massive News for Robinhood Stock [Yahoo! Finance]Yahoo! Finance
- S&P 500 sets a record after Wall Street breaks out of its lull [Los Angeles Times (CA)]Los Angeles Times
- Robinhood (HOOD) Unveils Credit Card, Expands Beyond Trading [Yahoo! Finance]Yahoo! Finance
- Robinhood Markets, Inc. (HOOD) is Attracting Investor Attention: Here is What You Should Know [Yahoo! Finance]Yahoo! Finance
- Institutional investors have a lot riding on Robinhood Markets, Inc. (NASDAQ:HOOD) with 45% ownership [Yahoo! Finance]Yahoo! Finance
HOOD
Earnings
- 2/13/24 - Beat
HOOD
Sec Filings
- 3/25/24 - Form 4
- 3/25/24 - Form 3
- 3/22/24 - Form 4
- HOOD's page on the SEC website