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BREAKING: FTX Reportedly Intends to Buy Robinhood, HOOD Soars 18%

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.ftx_app is reportedly looking to acquire RobinhoodApp

The company's stock is currently trading at $9.12 after paring some gains.

The potential acquisition is still in a very early stage, according to the aforementioned report. Robinhood is yet to receive a takeover request from the high-flying cryptocurrency exchange. As of now, FTX is only considering acquiring the popular trading app, whose bottom line has suffered due to diminishing speculative fervor in both crypto and stock markets.

Robinhood's stock is down almost 77% from its local high. The company, which went public last July, is currently valued at 8%.

 

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