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Robinhood sheds 'layers' by laying off almost 9% of 3,800 staff as it seeks to also minimize burn rate of the $6 billion sitting on its balance sheet

CEO Vlad Tenev is retrenching at the Menlo Park, Calif., firm, hoping to recapture the 'focus' the company had as a 'lean' unit of 700 people.

Author Brooke Southall
April 27, 2022 at 1:38 AM
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Vlad Tenev's storybook company is having to make more grownup choices.

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Robinhood shares spike 25% after CEO Vlad Tenev finally goes back on the attack against Acorns, Fidelity, and Schwabitrade by adding their tricks and features to its quiver

Semi-commoditized by giants and upstarts alike, the Menlo Park, Calif. firm is extending trading hours and doing its own Acorns-style round-up debit card to show it's in the fight.

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Robinhood gets 'brilliant' upper manager -- and a spare CEO -- by nabbing TD Ameritrade's ex-thinkorswim top exec, hopefully to throw a lifesaver to Robinhood's sinking stock

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Jeff Spears

Jeff Spears

April 27, 2022 — 10:36 AM
It is harder than it looks. A unique user interface is a good start. Unfortunately most option investors loose money. The next phase of growth will not be as sexy. It will hopefully last.
Brian Murphy

Brian Murphy

April 29, 2022 — 4:35 AM
Browsing through today's earnings release it's easy to see that Robinhood is badly sputtering. They've done some great things (zero commissions, opening crypto to retail investors, and a great app), and hopefully can pull out of this freefall. They need to rethink their positioning and how they wish to compete in order to do so however. Average account size of a bit north of $4k isn't helping them.

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