Hey everyone me kevin here: oh my gosh, robin hood earnings were a complete cluster f, an absolute disgusting disaster, i'm embarrassed to say i have shares in this i sold covered calls. I took like a 99 profit on the covered calls already, because the stock just been going down. Yeah i got lucky. I bought some shares pre-ipo some shares at ipo, but still the stock is being worthless.

I may as well just invest in nvidia, because it's going straight up to the moon, my gosh. Listen to these numbers. Okay, total funded accounts robinhood, wants to compare year over year and tell you that their total funded accounts went up well. When you compare quarter to quarter, total funded accounts dropped from 22.5 million at the end of the second quarter to 22.4 million, they lost users.

That's not, okay! That's this company's price like a growth company and they lost users. It don't that don't work! It doesn't. No! This is horrible folks, robin hood is a 33.8 billion dollar company they're, not profitable, and now their user growth is shrinking. Now, analysts were expecting to see growth first of all, just the word growth that would be nice if you're looking for stagflation here you go and you're stagnating.

With user growth, analysts were expecting 24 million and instead got a decrease of a hundred thousand, so they're expecting to add one and a half million users. They get a decrease of a hundred thousand. Also that's total funded accounts. Well, just because you're funded doesn't mean you're active right monthly.

Active users were at 21.3 million in the second quarter, that dropped to 18.9 million, but you won't know that looking at their actual, like financial summary page. Why would you not know that by looking at their financial summary page because they only give you increases year over year? Here it's like they're, trying to click bait you with the year over year numbers you go quarter to quarter and it's like. Oh, it's not very good. It's not good uh.

In addition to that, robin hood's revenue fell to 365 million dollars from 565 in the second quarter, huge decline from april may and june huge decline, robin hood posted a total loss of 1.32 billion dollars or two dollars and six cents a share. Folks, we wrote it down for the live stream. We were expecting an eps of a gap, eps of negative one dollar and 11 cents. They almost doubled the expected loss.

That's bad. Crypto revenue decreased dramatically. Crypto revenue was just 51 million dollars, which is down from 233 million dollars. Last quarter, i mean look, i know last quarter was big because of dogecoin.

You know, may snl right, but oh my gosh crypto revenue, 51 million dollars from 233, like where do you go from here? Hopefully up, but this is not good quarter of a quarter. That is a decline of 78.2 percent. So no surprise. Robin hood was down 8.

After hours now it's worth mentioning that robin hood decided to ipo right after they did their first and only massive affiliate program between january 22nd and uh february, 2nd. I want to say right around that gme crisis time, which nobody was able to pitch them anymore. After january 28th, but between january 21st, ish and the 28th, they had an affiliate program where uh people like youtube or instagram or tick tock creators would get uh an affiliate bonus for everyone referred to robin hood, so robin hood was getting millions of new signups in The first quarter right before ipoint to basically ipo at the highest valuation possible, which you can't blame them for that on one hand, because it's like, i guess, that's sales right, but immediately after the ipo and after that, one time they did that they basically can the Affiliate program, they didn't bring it back. Remember they did four free stocks just conveniently right before the ipo.

I've asked them, and i look i i like them as as people uh the the the affiliate partners, i'm like, why are you bringing something back? What are you bringing something back like y'all should be trying to grow. You all just screwed lots of people after the game stop thing, and i know you wash your hands of liability from it, but they were still look. We're not going to go down that rabbit, hole. Okay, we've gone down this rabbit hole many times on this channel.

Here, i'm not going to go down that rabbit hole. I i see both sides, i'm gon na leave it at that and i'm also gon na leave. It that i'm pissed - that's all okay, but now, in addition to only doing the affiliate program conveniently right before the ipo and then not bringing it back again afterwards to try to expand to new customers. On top of that, how freaking long have we been told that crypto wallets were coming come on? Folks, coinbase pro is taking you all to the cleaners.

Their fees are five dollars more than yours per transaction. I have to say robin hood: does have the best fees uh that i have found for cryptocurrency. That's that's the best that i found uh but uh yeah. I mean uh coinbase pro you actually have individual wallets for every cryptocurrency.

Robin hood says they're coming. I think. That's going to be a big catalyst for robin hood, but they literally said in their document uh in their press release that quote this quarter. This entire quarter was about developing more products and services for our customers, including crypto, wallets vlad.

We've been waiting for your crypto wallets for like years. Let's freaking go. Instead, they launched 24 7 live customer service so that you can get customer support anytime and on any topic. Maybe i should call them and ask them about these earnings and why they're not comparing to the quarter? Of course, i doubt anybody would figure that one out, but anyway, they're also working on a new multi-factor authentication verification system, whatever for crypto wallets and that's their excuse for the delay, blah blah blah blah blah they're in uh to robin hood, snacks or digestible educational content.

Robinhood just focus on the freaking wallets with the customer service. I look. There was a lot of. There were a lot of problems with customer service, a lot of people waiting a long time, but people just want features 99 of people don't want to talk to anyone.

They want features they want. Crypto wallets, you guys got to stay competitive, otherwise you're going to get replaced, you're going to be replaced by another app and your 33 billion market caps can keep going down. Now. I hope, as a shareholder of this company, that this is rock bottom for the company.

Okay, i hope it's rock bottom, because they're expecting flat new funded accounts next quarter as to this company a quarter. So hopefully it's just up from here. Hopefully, next quarter or the quarter there after they come out with crypto wallets and hopefully hopefully, robin hood can finally start going up again because lately this has been a slow bleed and that's it and i'm pissed. So, what's next for robin hood well number one! Robin hood should get the wallet number two.

They should get affiliates back if they do this within the next six months. I believe that, right now, robin hood could potentially be at a rock bottom. Robin hood needs to prove that they are the cheapest place to purchase crypto and a place where you can get your crypto out of there. If you want even like, i don't think it matters in my opinion, if, if people can transfer their money out, let people transfer their money out? Who cares but make robin hood the destination to purchase it then get staking if robin hood can just get with the program already things are going to look good for robin hood and pricing now will end up looking pretty inexpensive but you're going to have to rely On vlad and the staff at robin hood to get it together and prioritize this because think about it, they've built the backbone.

Now they got the 24 customer service. If you think about it, it's kind of like a trojan horse takeover for convincing people to get into cryptocurrency investing right in six months if they have a wallet and they have 24-hour customer service. That's gon na be pretty big because all those people who are gon na be interested in cryptocurrency in 2022. I'm gon na have somebody to talk to now.

So, while i'm pissed in the short term, i have hope that's about all. I got okay come on vlad. If you're watching this, would you just hit me up on twitter again slide into those dms and let's set up another interview about the future of robin hood? Okay, all right folks with that said, if you want to be not pissed check out the program's link down below on building your wealth, psychology of money and stocks trading options, all my buy sell alerts for when i trade it's not to be copied, but it's for When i trade real estate, investing property management, do-it-yourself rental renovations, real estate agent sales or making youtube content check out those programs down below they come with live streams every single day the market is open, and there is a coupon code expiring this friday get in before That coupon code expires friday night, because the price does go up thanks to all this transitory inflation that we've got going on. So i look forward to seeing you and folks thank you for being here.

We will see you in the next one goodbye you.