Robinhood Stock.

hey everyone me kevin here oh my gosh

robin hood earnings were a complete

cluster f an absolute disgusting

disaster i'm embarrassed to say i have

shares in this i sold covered calls i

took like a 99 profit on the covered

calls already because the stock just

been going down yeah i got lucky i

bought some shares pre-ipo some shares

at ipo

but still the stock is being worthless i

may as well just invest in nvidia

because it's going straight up to the

moon my gosh listen to these numbers

okay

total funded accounts

robinhood wants to compare year over

year and tell you that their total

funded accounts went up well when you

compare quarter to quarter total funded

accounts dropped from

22.5 million at the end of the second

quarter to 22.4 million they lost

users that's not okay that's this

company's price like a growth company

and they lost

users

it don't that don't work it doesn't no

this is horrible folks robin hood is a

33.8 billion dollar company they're not

profitable and now their user growth is

shrinking

now analysts were expecting to see

growth first of all just the word growth

that would be nice if you're looking for

stagflation here you go

and you're stagnating with user growth

analysts were expecting 24 million

and instead got a decrease of a hundred

thousand so they're expecting to add one

and a half million users they get a

decrease of a hundred thousand also

that's total funded accounts well just

because you're funded doesn't mean

you're active right monthly active users

were at 21.3 million in the second

quarter that dropped to 18.9 million but

you won't know that looking at their

actual like financial summary page why

would you not know that by looking at

their financial summary page because

they only give you increases year over

year here it's like they're trying to

click bait you with the year over year

numbers you go quarter to quarter and

it's like oh

it's not very good

it's not good uh in addition to that

robin hood's revenue fell to 365 million

dollars from 565 in the second quarter

huge decline from april may and june

huge decline robin hood posted a total

loss of 1.32 billion dollars or two

dollars and six cents a share folks we

wrote it down for the live stream we

were expecting an eps of a gap eps of

negative one dollar and 11 cents they

almost

doubled the expected loss that's bad

crypto revenue decreased dramatically

crypto revenue was just 51 million

dollars which is down from

233 million dollars last quarter

i mean look i know last quarter was big

because of dogecoin you know may snl

right but oh my gosh crypto revenue 51

million dollars from 233 like where do

you go from here hopefully up but this

is not good quarter of a quarter that is

a decline of

78.2 percent

so no surprise robin hood was down 8

after hours now it's worth mentioning

that robin hood decided to ipo right

after they did their first and only

massive affiliate program between

january 22nd and uh february 2nd i want

to say right around that gme crisis time

which nobody was able to pitch them

anymore after january 28th but between

january 21st ish and the 28th they had

an affiliate program where uh people

like youtube or instagram or tick tock

creators would get uh an affiliate bonus

for everyone referred to robin hood so

robin hood was getting millions of new

signups in the first quarter right

before ipoint to basically ipo at the

highest valuation possible which you

can't blame them for that on one hand

because it's like i guess that's sales

right

but immediately after the ipo and after

that one time they did that they

basically can the affiliate program they

didn't bring it back remember they did

four free stocks just conveniently right

before the ipo i've asked them and i

look i i like them as as people uh the

the the affiliate partners i'm like why

are you bringing something back what are

you bringing something back like y'all

should be trying to grow you all just

screwed lots of people after the game

stop thing and i know you wash your

hands of liability from it but they were

still look we're not going to go down

that rabbit hole okay we've gone down

this rabbit hole many times on this

channel here i'm not going to go down

that rabbit hole i i see both sides i'm

gonna leave it at that

and i'm also gonna leave it that i'm

pissed that's all okay

but now

in addition to only doing the affiliate

program conveniently right before the

ipo and then not bringing it back again

afterwards to try to expand to new

customers on top of that

how

freaking long have we been told that

crypto wallets were coming come on folks

coinbase pro is taking you all to the

cleaners

their fees are five dollars more than

yours per transaction i have to say

robin hood does have the best fees uh

that i have found for cryptocurrency

that's that's the best that i found

uh but uh yeah i mean uh

coinbase pro you actually have

individual wallets for every

cryptocurrency robin hood says they're

coming i think that's going to be a big

catalyst for robin hood but they

literally said in their document uh in

their press release that quote this

quarter this entire quarter

was about developing more products and

services for our customers including

crypto wallets vlad

we've been waiting for your crypto

wallets for like years

let's freaking go

instead they launched 24 7 live customer

service so that you can get customer

support anytime and

on any topic

maybe i should call them and ask them

about these earnings and why they're not

comparing to the quarter

of course i doubt anybody would figure

that one out

but anyway

they're also working on a new

multi-factor authentication verification

system whatever for crypto wallets and

that's their excuse for the delay blah

blah blah blah blah they're in uh to

robin hood snacks or digestible

educational content

robinhood just focus on the freaking

wallets

with the customer service i look there

was a lot of there were a lot of

problems with customer service a lot of

people waiting a long time

but people just want features 99 of

people don't want to talk to anyone they

want features they want crypto wallets

you guys got to stay competitive

otherwise you're going to get replaced

you're going to be replaced by another

app and your 33 billion market caps can

keep going down now i hope

as a shareholder of this company that

this is rock bottom for the company okay

i hope it's rock bottom because they're

expecting flat new funded accounts next

quarter as to this company a quarter so

hopefully it's just up from here

hopefully next quarter or the quarter

there after they come out with crypto

wallets and hopefully hopefully robin

hood can finally

start going up again because lately this

has been a slow bleed and that's it and

i'm pissed so what's next for robin hood

well number one robin hood should get

the wallet number two they should get

affiliates back if they do this within

the next six months i believe that right

now robin hood could potentially be at a

rock bottom robin hood needs to prove

that they are the cheapest place to

purchase crypto

and a place where you can get your

crypto out of there if you want even

like i don't think it matters in my

opinion if if people can transfer their

money out let people transfer their

money out who cares

but make robin hood the destination to

purchase it then get staking

if robin hood can just get with the

program already things are going to look

good for robin hood and pricing now will

end up looking pretty inexpensive but

you're going to have to rely on vlad and

the staff at robin hood to get it

together and prioritize this because

think about it they've built the

backbone now they got the 24 customer

service if you think about it it's kind

of like a trojan horse takeover for

convincing people to get into

cryptocurrency investing right in six

months if they have a wallet and they

have 24-hour customer service

that's gonna be pretty big

because all those people who are gonna

be interested in cryptocurrency in 2022

i'm gonna have somebody to talk to now

so while i'm pissed in the short term

i have hope

that's about all i got okay come on vlad

if you're watching this would you just

hit me up on twitter again

slide into those dms and let's set up

another interview about the future of

robin hood okay all right folks with

that said if you want to be not pissed

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inflation that we've got going on so i

look forward to seeing you and folks

thank you for being here we will see you

in the next one goodbye

[Music]

you