Will Sam Bankman-fried sell Robinhood stock?

Robinhood ( HOOD) stock tumbles 30% in the past week as FTX founder Sam Bankman-Fried (SBF) may be forced to sell his stake. SBF owns a 7.6% stake in Robinhood, which he only bought as recently as May 2022. This week, the world's biggest crypto exchange Binance backed out of a deal to buyout its smaller rival FTX, the future of FTX now looks grim.

What time is the Robinhood 24 hour market?

In Key statistics for supported symbols in the Robinhood 24 Hour Market, the prices shown in High today and Low today represent the highest and lowest values from 12 AM-12 AM (midnight), Monday-Thursday (24 hours a day, localized to your time zone within the U.S.).

Who owns Robinhood shares?

Ownership of the Robinhood shares is being contested in federal court by crypto lending platform BlockFi, who say Bankman-Fried’s shares were promised to them. In the affidavit, Bankman-Fried says he and Wang formed a new company, Emergent, to acquire shares in Robinhood Markets Inc, better known as Robinhood, totaling $546.4 million.

Will Robinhood (Hood) be affected if SBF doesn't sell his stake?

Even if SBF does not sell his stake, Robinhood ( HOOD) is likely to be affected by the drop in value of BTC and other cryptocurrencies, and may even face the same liquidity issues currently happening at FTX. This event is likely to create an uncontrolled ripple effect across the industry, much like the collapse of Lehman Brothers back in 2008.