You’d be forgiven for anticipating public fintech firms that facilitate shopper buying and selling to be underneath strain this week. And but, after reporting earnings, the share costs of two pandemic-era highfliers gained floor. Coinbase and Robinhood up? On this economic system? Sure.
Of the out-of-fashion tech sectors, shopper buying and selling needs to be among the many most out of favor. And but.
TechCrunch wished to higher perceive investor response to outcomes from each Coinbase (crypto-focused) and Robinhood (equities-focused) to determine what drove every firm’s shares greater within the wake of their stories. The solutions, it seems, are partially associated.
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In an ironic twist, a few of the forces which have made shopper buying and selling much less enticing are the exact same impulses serving to the 2 firms derive extra income from a beforehand less-critical a part of their enterprise. The Federal Reserve taketh away, and the Fed additionally giveth some again.
