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Robinhood is cutting jobs, reorganizing teams, and focusing on credit cards to solve a shrinking user base, insiders say (www.businessinsider.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Robinhood is cutting jobs, reorganizing teams, and focusing on credit cards to solve a shrinking user base, insiders say::Robinhood is reorganizing and its future in credit cards was discussed in all-employee meeting, insiders say.

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[–] silverbax@lemmy.world -3 points 11 months ago* (last edited 11 months ago)

OR - and hear me out here - the stock market was flooded with retail investors who all thought they were geniuses during a bull market, then as the market flatlined over the last 2 years, suddenly left the market as reality set in and those retail investors learned they weren't outsmarting the market.

I mean, Robinhood went public 2 years ago. GME short squeeze was six months prior. I'd attribute Robinhood losing users two and half years later would more likely be the market cooling - just as Schwab and TD Ameritrade have seen. (TD was just bought by Schwab , BTW).

The stock market is a lot bigger than one blip stock event nearly three years ago. On Wall Street, 24 hours is a lifetime.