Robinhood is Down 20% After Binance Announces FTX Acquisition

[Google News Bot]

The price of publicly traded exchange Robinhood stock is down 20%, to around $9.74, on news that Binance will acquire Sam Bankman-Fried’s FTX, which took a 7.6% stake in the popular trading platform in May. Robinhood opened the day trading at $11.72 before news of the FTX buyout became known. Robinhood $HOOD closed down 19% today. FTX CEO Sam Bankman-Fried has 56,273,469 shares in $HOOD There’s speculation that Bankman-Fried will have to sell some or all of the 7.6% stake to shore up some personal liquidity. What are your thoughts? — Benzinga (@Benzinga) November 8, 2022 Ac ...

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