Hi HODLers and Hiveans,
Robinhood HOOD said that European customers will now have access to more than 200 U.S. stock and ETF tokens:
which include tech heavyweights Nvidia Corp. NVDA, Microsoft Corp. MSFT, Apple Inc. AAPL and e-commerce giant Amazon.com Inc. AMZN. Stock tokens for private companies SpaceX and OpenAI are also available.
I have made a killing owning $HOOD stock but I am becoming increasingly worried about the gamification of their platforms and this initiative is extremely weird...
They are going to bypass stander ADR process (which is usually how you offer a foreign stock to your domestic market) and brokers.
I guess this is fine but I would be curious to see how they back the token. If they have to sometimes "pause" the trading when they are on the wrong side of it (cf GameStop BS pause)...
Also, they plan to list Stock tokens for private companies SpaceX and OpenAI. Huh? How are you going to price these? Purely speculatively like a shitcoin? This is not the way to build a long-lasting company.
I will sell my shares and I am done with the company, while also reading the review from consumers, it seems this might not end well. I prefer IBKR or Schwab if you ahve some real $$$ and not just lunch money.
It is a company that should have morphed from a Gambling app to a Blue Chip Investment Firm. It just decided to double down on the Degen and Gambling side. Too bad.
Sincerely,