Robinhood volatile on rumors amid SBF's FTX drama By Investing.com

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Robinhood volatile on rumors amid SBF's FTX drama

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By Investing.com Staff

Rumors continue to swirl about FTX CEO Sam Bankman-Fried's 56,273,469 shares, or 7.6% stake, in Robinhood (NASDAQ:HOOD), amid Binance's proposed takeover of FTX's non-U.S. operations, following a potential "significant liquidity crunch."

Speculation has turned to if Bankman-Fried will have to sell the stake to shore up some personal liquidity.

Analysts note that any knee-jerk reaction to the stake is a negative for the stock, Robinhood's crypto exposure is small and the company is well diversified.

"For HOOD, while the knee-jerk reaction is negative amid SBF's ~8% stake, HOOD's exposure to crypto is small as the business remains well diversified," Mizuho analysts commented.

"Robinhood only has 14% of total revenue from trading crypto tokens. It is far more diversified than COIN with equities and options trading," they added.

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Robinhood volatile on rumors amid SBF's FTX drama

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