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Business Wars Daily

Robinhood Financial’s Terrible, Horrible, No-Good, Very Bad Day

Business Wars Daily

Wondery

News, Daily News, Business News, Business

4.6716 Ratings

🗓️ 17 March 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

Today is Tuesday, March 17, and we’re looking at Robinhood Financial vs. Fidelity.

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Transcript

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0:00.0

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0:49.3

One, three.

1:03.6

The Wondry. I'm David Brown, and this is Business Wars Daily on this Tuesday, March 17th.

1:09.0

Well, if these last couple of weeks, a coronavirus panic have

1:12.1

showed us anything, it's that for some companies, it's hard to be prepared for massive unprecedented

1:17.6

change. Witness Robin Hood, the trading app that lets customers buy and sell fractional shares of

1:23.6

stock with zero commissions. Now, until early this month, Robin Hood had a good reputation.

1:29.0

The app has grown fast.

1:30.8

Just over a year ago, it had 5 million users.

1:33.9

Today, the company says it has more than 10 million.

1:37.6

The privately held business was valued at about $7.5 billion as of last summer

1:41.9

when it raised funds, according to CNBCBC. But on March 3rd,

...

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