Robinhood Might be Shifting to Social Trading

Robinhood has launched a new featured called profiles, which allows users to see analytics about their portfolio complete with a username and photo; the company is slowly shifting back towards their original idea of a stock-trading social network according to TechCrunch’s Josh Constine; rebuilding some of the original features like projections on the direction of a stock and accuracy scores could make the network a crowdsourced financial advice hub; the company would need to build in safeguards to ensure get rich quick schemes were not put out through the network; Robinhood has been coy on the subject of a full social trading network as they explained to TechCrunch, “When thinking about how to reflect who you are as an investor, we looked at how other apps represent you and it felt natural to leverage a design that felt more like a profile. When helping people group their investment ideas, it was easy to envision this as a playlist you might find on your favorite music app.” Tech Crunch

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