Robinhood (HOOD) Stock Slumps 29%. What Rights is Provided By The Tool For $140 Million?

During the week Robinhood (HOOD) stock price dropped by $ 22.63. The last trading session was closed at $77.03 on Wednesday. But on the same day, it fell to $58.55 and jumped again to $ 71.17. Since then it has fluctuated between $ 50.85 and $ 58.68. Now is trading at $ 54.73.
The roughly $140 million all-cash agreement will give Robinhood admission to Say’s product, which helps organization investors exercise their right to vote proxies and inquire as indicated by a blog entry Tuesday. The declaration comes under about fourteen days after Robinhood made its public trading debut.

Robinhood consented to purchase Say Technologies, an instrument for investors casting a ballot and communication. Retail financial backers haven’t customarily been a significant power in deciding on corporate issues like leader pay and shareholder recommendations. One investigation of U.S. retail casting ballot conduct between 2015 and 2017 found that retail accounts made up pretty much 11% of those that voted in shareholder gatherings.

Robert McDowney

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