Robinhood Markets Inc. (NASDAQ: HOOD) plans to offer its British users the ability to invest in U.K. stocks as the company seeks growth beyond domestic markets. The company's CEO and co-founder, Vlad Tenev, mentioned this in an interview with Bloomberg on Friday.
This move, if executed, would follow the roll-out of commission-free trading by HOOD for more than 6,000 U.S.-listed stocks to U.K. investors.
HOOD's Rationale Behind This Pursuit
HOOD has been aiming to enter new markets in recent years to diversify its business and become less dependent on trading revenues. The trading activities have weakened after a pandemic-induced boom that led to inflated enthusiasm for meme stocks, driving up Robinhood's trading revenues in the process.
Tenev stated, "We are looking ahead to multi-currency wallet support and local execution, including the London Stock Exchange. There's been huge demand for options as well — options on US equities — because that's just hard to come by here in the UK market."
Tenev further stated that the firm has realigned its emphasis within the U.S. markets, focusing ...
