Robinhood Sees Large Spike in Deposits on Market Turmoil

As stock market volatility increased the trading app Robinhood saw deposits jump 20 percent; “We saw a large spike in transaction volume and trading activity on the platform today,” a spokesperson told Business Insider. “Retail investors deposited 20% more funds into their Robinhood accounts today than they did on Friday.”; this is a trend the company has seen before, in late 2016 the Dow dropped 8 percent because of issues in Asia and the app saw their biggest net deposits ever. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.