Could Sam Bankman be the next Ryan Cohen?
Recently, FTX CEO Sam Bankman bought a 7.6% stake in $HOOD. FTX is a crypto brokerage platform similar to $COIN.

Being an expert on how exchanges work, it would be interesting to see what Sam Friedman looks to do with Robinhood. Even if his stake in the company may seem insignificant, it's important to note that FTX and Robinhood are indirect competitors. Both offer a crypto brokerage platform to consumers but at the same time, Robinhood offers fewer cryptos for people to trade and gives people a plethora of stocks and options to buy and sell.

The reaction to Sam Bankman's stake in Robinhood was big. The stock rose more than 20% after hours because of it.

In late March, $GME experienced a similar reaction as Ryan Cohen, co-founder of $CHWY, added to his stake in the videogame retailer. Around the same time, $BBBY shares surged as Ryan Cohen took a stake in that company as well.

Ryan Cohen is investing in those retailers because he wants to help fix the operations of those companies. Sam Friedman could be looking to do something similar with Robinhood.

We have yet to see.
Joshua Simka's avatar
Dissecting the Markets's avatar
@tomato thanks for letting me know! I got the names confused.
Jensen Butler's avatar
This headline today caught me off guard. Very interested to learn more about this and hear about SBF’s motives and plan
Jensen Butler's avatar
“Robinhood stock skyrockets on SBF news”

Dissecting the Markets's avatar
@jensen if FTX does end up buying out $HOOD, it would have to be at a massive discount.
Jensen Butler's avatar
@dissectmarkets would have to be inside the brain of SBF to know intent. Idk, $HOOD kind of disastrous- I think their peak shine with day trading frenzy user base may have passed given the mass exodus off their platform so will have to reinvent themselves to stay around imo. Was the pioneer with no transaction fees but they lost that edge once everyone else folded to that as well..
Dissecting the Markets's avatar
@jensen their UI is the only thing that keeps many on the platform.
Jensen Butler's avatar
@dissectmarkets I just use it for quick quotes and have no money on there anymore. I am sure there are many more like me in that same boat