| When Robinhood embarked on a mission to democratize online trading and end Wall Street firms’ practice of charging fees for executing trades, many thought it was impossible; few also said that this was an unsustainable model and predicted its failure. However, no one had thought about the outcome—retail investments, especially by the millennials, rapidly increased in markets. Robinhood offered a gamified version of online trading. ‘Robinhood traders’ even became the shorthand for the hyped and often speculative retail investing seen during the pandemic lockdowns. |
