Robinhood declared on Monday it brought another $200 million up in subsidizing, pushing its valuation to $11.2 billion. The quickly rising valuation of Robinhood is yet more proof of how the startup has changed the trading industry. Robinhood is developing rapidly during this time of memorable market disturbance with millions of Americans working remotely.
Starting at early May, Robinhood announced including in excess of 3 million clients in 2020. What’s more, about portion of those new clients were first-time investors. Day by day normal revenue trades multiplied between the first and second quarters.
New brokers are looking for approaches to benefit from the swings in stock prices prodded by Covid-19, which has assisted with approving the Robinhood plan of action. Robinhood has become so compelling that advanced investors even monitor the ubiquity of stocks on the stage by means of sites, for example, Robintrack. At $11.2 billion, Robinhood is presently esteemed higher than some major S&P 500 companies.