Robinhood Markets (HOOD) posted its first-quarter results which revealed a gain in revenue, up 40% year-over-year, with revenue from crypto up 232%. Among the positive results showed thousands of customers sign up for Robinhood's retirement account offering, potentially on the back of rising retirement concerns around Social Security insolvencies.
Yahoo Finance Executive Editor Brian Sozzi is joined by Robinhood CEO Vlad Tenev to discuss the trading platform's successful quarter as well as the drivers for asset inflows, the boost from crypto engagement, and more.
"When we talk to customers, particularly for our retirement product, they love the user experience and the 3% match that is evergreen for contributions is just among the most compelling offers they've seen," Tenev tells Yahoo Finance's Market Domination. "A lot of them don't have 401(k)s through employers. The ones that do sometimes don't have employers that match, so having Robinhood provide that service in an individual self-directed retirement product is really compelling."
For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
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