Director Meyer Malka purchased 250,000 Robinhood shares at $80.74 each, totaling $20.2 million. The platform reported record $377 billion in assets in May, up 9% from April and 48% year-over-year, and CEO Vlad Tenev confirmed Robinhood Securities has received approval to serve as an underwriter for future IPOs.
Director and Ribbit Capital founder Meyer Malka acquired 250,000 Robinhood shares last week at $80.74 each, investing $20.2 million. Entities affiliated with Malka now hold over 8 million shares through investment funds, trusts and related vehicles.
Robinhood platform assets reached a record $377 billion at the end of May, marking a 9% increase from April and a 48% rise from a year earlier. Funded accounts grew to 27.7 million and net deposits totaled $5.6 billion during the month.
Equity trading volume surged to $315 billion in May, up 27% month-over-month and 75% year-over-year, while average daily equity volume climbed 84% to $15.8 billion. Options contracts traded rose 29% year-over-year to 231 million, event contracts hit 3.9 billion and margin balances jumped to $19.5 billion.
CEO Vlad Tenev announced that Robinhood Securities has received regulatory approval to serve as an underwriter, moving beyond its current selling-group participation. This expansion positions the firm to lead future IPOs and capture underwriting fees.
Finance
