From Joe Weisenthal and Tracy Alloway at Bloomberg, July 1:
Here comes 24-hour stock trading.
Robinhood, the company known for first introducing commission-free trading, has now become behemoth with all kinds of different business lines including credit cards, savings vehicles, crypto, and wealth management.
This week it's announced further expansion with news that it's launching its own chain, as well as tokenized stock trading (that for now is only available in the EU).
On this episode, we speak with founder and CEO, Vlad Tenev, about its new endeavors, as well as the legacy of the 2021 meme stock mania, the evolution of the YOLO traders, the changing regulatory environment, and when we can expect to have 24/7 on-chain stock trading in the US....
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And at Investor's Business Daily, July 1:
Robinhood Target Hiked 83% On Tokenized Stock Launch
Robinhood Markets' (HOOD) introduction of tokenized stock trading and other crypto offerings at a Monday event spurred a series of Wall Street price target hikes reported on Tuesday, including a massive 83% boost from KeyBanc. HOOD rose modestly, after surging to an all-time high to start the week.
In a research report distilled by investment news site The Fly, KeyBanc took note of Robinhood's increased product breadth/depth and velocity in rolling out innovative new features that contribute to an expanded market opportunity.
Robinhood Tokenized Stocks
Robinhood's launch of tokenized stocks is initially just for customers in the European Union. In an explainer, the commission-free trading platform said that the Robinhood Stock Tokens are blockchain-based derivatives, "giving you exposure to the U.S. market.""You can buy, sell, or hold stock tokens — but you cannot send them to other wallets or platforms at this time."
Robinhood said that the transactions are done in U.S. dollars. "When you place a trade, we automatically convert your euros" — plus a 0.1% FX fee that "covers everything."
The market for stock tokens is open 24 hours, Monday to Friday.......HOOD
KeyBanc hiked its target on HOOD shares to 110 from 60, keeping an overweight rating. Deutsche Bank raised its HOOD price target to 96 from 85, keeping a buy rating....
....MUCH MORE
The outro from June 28's "Dinari granted first broker-dealer registration to offer tokenized stocks":
If interested see also June 19's "Coinbase seeks SEC approval for ‘tokenized equities’ — Report"
Here's the whole tokenization series, basically tokenize everything in the world.
