Robinhood Markets is adding a key feature to its cryptocurrency platform that could make it a bigger player in the crypto world — and force competitors to lower their fees. The broker announced on Wednesday that it would start testing a crypto wallet next month that will allow users to move their digital assets off its app, or transfer assets from elsewhere onto the app. Shares of Robinhood (ticker: HOOD) were up 3.8% on Wednesday afternoon. Read More...
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SoFi: Breaking Down Jefferies’ New Bullish Call
The neobank segment is growing at a fast clip, with many companies looking to dominate the space. Surveying this landscape, Jefferies’ John Hecht thinks SoFi Technologies (SOFI) is well-positioned to take share. The 5-star analyst lists several reasons for his bullish outlook. For one, the company’s synergistic business model, what it terms the “Flywheel,” will continue to drive “significant user growth, product adoption, and margin expansion.” The Flywheel’s purpose is to help cross-sell its wi
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