NEW YORK, Aug 17 (Reuters) – When Robinhood Markets Inc (HOOD.O) publishes quarterly figures for the first time since going public on Wednesday, its private shareholders will want to know when cryptocurrency wallets are coming and whether they will get branded hoodies Say Technologies.
Robinhood, which said it reserved up to 35% of its shares for its users on its July 29 market debut, announced last week that it is buying Say, a platform that gathers questions from retail investors about crowdsourcing and enables them to interacting with companies they are investing in along with events such as income calls.
On Tuesday afternoon, the main question at Say for Robinhood with 1.6 thousand votes was whether the brokerage will receive a crypto wallet that will allow users to withdraw and transfer cryptocurrencies to and from other brokers.
Cryptocurrency trading has fueled much of Robinhood’s recent growth, with more than 9.5 million customers trading approximately $ 88 billion worth of cryptocurrencies on the platform in the first quarter, according to a recent regulatory filing. Crypto assets grew 23-fold between March 31, 2020 and the end of the first quarter of this year, the filing said.
The second question related to Robinhood’s plans to roll out the app in other countries, while the third asked if the company would allow users to designate beneficiaries or take on features like multiple accounts and joint accounts.
In fourth place: “As a first-time investor, can we get a Robinhood hat and a hooded jacket?”
The company expects revenue between $ 546 million and $ 574 million for the three months ended June 30, compared to $ 244 million last year, according to an updated filing.
The gain was mainly due to an increase in funded accounts, as well as higher levels of trading in options and cryptocurrencies, which were offset by a decline in stock trading, Robinhood said.
Reporting from John McCrank; Editing by Ira Iosebashvili and Steve Orlofsky
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