Cryptocurrency exchange FTX intends to buy Robinhood…Details here
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Answer Cryptocurrency exchange FTX intends to buy Robinhood…Details here
Robinhood shares surged more than 18% after Bloomberg reported that FTX plans to acquire popular stock trading app Robinhood.
Robinhood stock is currently trading at $9.12 after paring some gains.
The potential acquisition is still at a very early stage, according to the report mentioned in the above source.
Robinhood has yet to receive an official takeover request from cryptocurrency exchange FTX, one of the leading cryptocurrency exchanges.
FTX is considering acquiring popular trading app Robinhood, whose earnings have suffered in recent quarters due to waning speculative enthusiasm in both the cryptocurrency and stock markets.
Robinhood stock is down nearly 77% from its earlier high of $55 in August 2021.Read:Future predictions about the “Facebook” digital currency
Robinhood, which went public last July, is currently valued at 8%.
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