Can Robinhood Markets Be a Millionaire-Maker Stock?
It's probably fitting that Robinhood Markets (NASDAQ: HOOD) has traded more like a meme stock in its first month on the public markets than like a stodgy brokerage. It is, of course, the online investing app that's most connected with the stock trading frenzy that swept the stock market earlier this year.
Yet Robinhood is not so different from E*Trade, TD Ameritrade, and Charles Schwab. While its claim to fame came from democratizing investing through commission-free trading with no account minimums, it still must follow all the same rules of the SEC, the stock exchanges, and stock clearinghouses.
That raises the question: If it's pretty much the same as other brokerages, can investors hope to become millionaires investing in Robinhood? Let's take a closer look to find out.
Source Fool.com