Memes to Market: Robinhood IPO

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 29 July 2021

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Vlad Tenev, Robinhood CEO, says meme investing is no joke, “it’s a real thing.” Free stock trading app Robinhood surged in popularity among retail investors through the Covid-19 pandemic and the meme stock mania of 2021. The company sold shares in its Nasdaq launch at $38 a piece, valuing it over $30 billion. Tenev celebrates Robinhood’s IPO, the role of ‘payment for order flow’ in the next generation of investing, cryptocurrencies, and what the road to the public market means to him personally. Andrew Ross Sorkin, Joe Kernen and Morgan Brennan look for lessons for Robinhood in the legends of IPOs-past and …. Kernen on cruise control. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0	Bring in show music please. This is Squawk Pod. I'm C NBC producer Katie Kramer.
0:07.0	Today on our podcast Robin Hood CEO Vlad Tenev. We think we've just scratched the surface.
0:13.6	There's a lot more that we could do to serve people.
0:15.7	One of the hottest public market debuts of the year, the company nearly synonymous
0:19.8	with the meme stock trade is valued at more than $30 billion.
0:23.6	I think it's a unique company.
0:25.2	There's not a lot of companies with our growth profile and our product set in financial services.
0:31.6	Andrew Ross Sorkin has the interview and the analysis on Robin Hood's moment.
0:35.6	Does the retail audience flip or not and does the institutional money come into an investment
0:40.5	like this because they say to themselves, the retail money is smart money,
0:43.5	or do they think the retail money is dumb money?
0:46.0	Plus lessons from buzzy IPOs past
0:48.8	and hitting the road with Joe Kernan.
0:51.0	Don't worry about getting a vacuum cleaner in your minivan.
0:54.3	Get a car with adaptive cruise control.
0:56.2	That was the future I was looking for.
0:58.4	It's Thursday July 29, 2021.
1:01.2	Squack-P Pod begins right now.
1:03.7	Stand under by in three, two, one,
1:06.7	Q Andrew.
1:08.2	Good morning and welcome to Squawk Box right here
1:10.0	on C.N.
	...

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