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Millennials are snapping up the ‘Netflix of China’ — and the stock has doubled in less than 3 months
Shares of iQiyi — the Baidu-owned video service widely seen as the Netflix of China — has more than doubled since its initial public offering less than three months ago. It's now one of the most popular stocks on the Robinhood stock trading app.
10-year-old iQiyi went public in March after being spun off by the Chinese search giant Baidu in an initial public offering that raised $2.25 billion for the video service. It currently boasts 20 million subscribers.
Data from the stock-trading app Robinhood — whose user base skews markedly younger than traditional brokerages — shows that Tesla was sold more than any other stock on the app, with 5,087 investors exiting their positions over the past week.
An app millennials are using to trade stocks and cryptocurrencies without any fees is now worth $5.6 billion: Here’s how to use it
Robinhood is an app built around one single promise: no-fee stock and cryptocurrency purchases. This what you need to know about it to get started.
5 years ago, the stock-trading app Robinhood was rejected by 75 investors — now it’s worth $5.6 billion
Robinhood, a zero-fee stock-trading app popular among millennials, confirmed its most recent funding round of $363 million, placing the company's worth at $5.6 billion. Its cofounder Vlad Tenev also said Robinhood would buckle down on its crypto offerings in the coming months.
Since Nvidia’s last earnings report, the price of cryptocurrencies has fallen dramatically. Nvidia found an unexpected boost from would-be crypto miners gobbling up its hardware to mine the digital coins. Now, the craze seems to have died down, many analysts worry the demand could fade as well.
Starbucks reports Q2 results after market close Thursday. Young investors sell off shares on Robinhood, possibly rattled by the racial profiling incident.
Last quarter, investors were buying 47% more than they were selling. This quarter that isn't the case.
Shares of the streaming giant are down 1.46% ahead of its report Monday afternoon.
Robinhood, the stock trading app loved by millennial investors and cryptocurrency traders, could soon be a $5.6 billion company
Robinhood is finalizing a new funding round led by DST Global, the firm led by influential Russian billionaire Yuri Miller, The Wall Street Journal reports.