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Does Robinhood Offering Crypto Wallets Mean It’s A Buy?

Formed in 2013, Robinhood Markets (HOOD) became a publicly traded company in late July with much fanfare. The company is widely considered the leader in pioneering commission-free trading for stocks and exchanged-traded funds through its popular mobile trading platform.

Shares made their debut on July 29th at $38 a share but were priced at the low end of its initial public offering range. After sinking as much as 10% and ending the session just south of $35, Robinhood’s market capitalization was valued at $29 billion.

The company has enjoyed rapid growth and has quickly risen to the third-largest brokerage firm based on number of funded accounts. Fidelity and Charles Schwab, which acquired TD Ameritrade in 2020, are ranked one and two.

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This article originally appeared at Investors Alley.