The new date is Jun 27, 2022.
According to reports, Sam Bankman-Fried's FTX is considering a deal to buy the company just over a month after he first disclosed a stake.
Bankman-Fried, the billionaire founder of FTX, disclosed a sizeable stake in Robinhood a month ago.
According to people familiar with the matter, FTX is debating how to pursue a full acquisition of Robinhood.
The news caused shares of Robinhood to rise as much as 18% before they were halted. The time is at 10:30 pm
The stock held on to most of its gains after the market opened on Monday.
FTX has not made a final decision on whether to pursue the deal or not, according to the report.
The report comes just over a month after Sam Bankman-Fried, the founder and CEO of FTX, first disclosed a 7.6% stake in Robinhood.
The stock soared over 20% in a single day on May 14 after Bankman- Fried called it an attractive investment.
While the S&P 500 declined 20% in the first half of the year, shares of Robinhood fell over 50%. As the company struggles with depressed user growth on its platform as well as declining trading revenues, investors have soured on the stock. A far cry from last August's record high of $85 per share, the shares are currently trading at nearly $10 per share.
As investors flee to safer bets amid a backdrop of rising rates, high inflation and looming recession fears, Cryptocurrencies have plummeted. The price of the virtual currency fell below $20,000 earlier this month as a number of firms announced layoffs or halted sales.
$21 billion. Forbes estimates that Bankman- Fried is worth more than the sum of its parts. His company reached a $40 billion valuation at the beginning of 2022, making him one of the richest people in the world.
The monthly active users fell 10% from a year ago.
The stock hit a record low as layoffs loom.
Charlie Munger Slams Robinhood, Warren Buffet Cautions against Stock Market.
Young investors who've never traded through a downturn will feel the end of an era.
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