Doesn't he just say that internalization will easily replace PFOF as revenue source? seems like a perfectly sensible assessment to me
$HOOD CFO Jason Warnick making a risky assertion here IMO on equities PFOF being an easy revenue stream to replace.
He's basically saying options & crypto (which is still PFOF) will continue to be the vast majority of revenue going forward.pic.twitter.com/NhVytcbu05
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So you think it won't be prohibitively expensive for Robinhood to internalize its own flow at some point in the next few years? I was under the impression that one small broker would have a hard time making that profitable by itself.
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