Robinhood (HOOD) co-founder and CEO Vlad Tenev tells Yahoo Finance Live he’s managing what he can to jumpstart the on the internet buying and selling platform’s inventory price tag.

The “hope” is that in excess of time Robinhood’s stock will mirror individuals initiatives, Tenev discussed.

Shares of Robinhood are down 1% in the earlier year, lagging the S&P 500’s 14% acquire. Rivals Charles Schwab (SCHW) (integrating TD Ameritrade acquisition) and Morgan Stanley (MS) (integrating E-Trade acquisition) have witnessed drops of 23% and 10%, respectively, all through the similar time body.

At $9.55 a share, Robinhood’s inventory remains about 75% shy of its 2021 IPO value. 

To Tenev’s point, this 12 months has observed a host of milestones for the firm designed renowned in the course of the GameStop (GME) trading frenzy a number of yrs in the past.

Last week, Robinhood reported it would start in the British isles in early 2024. Characteristics of the service will include the capability to pick out from 6,000 US shares and 24-hour investing 5 days a 7 days.

This marks Robinhood’s third endeavor at bringing its business enterprise to the United kingdom.

British isles markets regulator the Economic Conduct Authority (FCA) has warned in the earlier about the pitfalls of gamifying investing, a recurrent criticism of the Robinhood platform. But this time about, the company will start with a license from the FCA.

For the US, Robinhood debuted 24-hours-a-day investing on some stocks and ETFs in May perhaps of this calendar year.

The feature is out there from 8:00 p.m. ET Sunday to 8:00 p.m. ET Friday. The original foray unlocked buying and selling on far more than 40 shares and ETFs, which include trader favorites these as Apple (AAPL) and Tesla (TSLA).

The quantity of eligible stocks has considering that risen to a lot more than 100. On top of this, the organization has been pushing into gold and retirement merchandise around the past six months.

Vlad Tenev, CEO and Co-Founder of Robinhood, speaks during the Piper Sandler World Trade and FinTech Convention in New York City, U.S., June 7, 2023. REUTERS/Brendan McDermid (Brendan McDermid / reuters)

Robinhood is also eyeing the launch of futures trading in 2024, pending regulatory approval. A credit score card featuring is on the docket as nicely for next yr, Tenev said. The enterprise introduced that it really is buying credit history card startup X1 for $95 million in June.

Read far more: Which credit card is finest for me? A how-to manual on locating the proper card

Tenev informed buyers on the company’s November earnings simply call that the system could at some point reel in “9 figures” in yearly income.

Irrespective of the solution rollouts, Wall Road has continued to continue to be lukewarm on Robinhood’s stock.

“While the founders have leveraged innovation, guts, and perfect current market problems to establish a primary US retail broker, we do not see growth as sustainable, and we query the skill of the organization to make aggressive margins above time specified the concentration on this kind of compact accounts that have restricted place to be profitable,” warned JP Morgan analyst Ken Worthington in a customer observe.

“That said, the predicted move to profitability in 2024 is a positive and seems sustainable, at least for as prolonged as fascination rates continue being elevated.”

Brian Sozzi is Yahoo Finance’s Government Editor. Stick to Sozzi on Twitter @BrianSozzi and on LinkedIn. Recommendations on specials, mergers, activist cases, or just about anything else? E mail [email protected].

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