Robinhood to acquire TradePMR for $300 million to boost advisory business

Robinhood has been pushing to grab market share from traditional brokerages such as Charles Schwab and Fidelity Investments in its effort to become to a full-fledged financial services provider. Over the past few months, Robinhood has unveiled a credit card, launched a desktop trading platform, added futures and index options trading and rolled out contracts for betting on the U.S. presidential election. Robinhood's shares, which were up 1.2% in trading before the bell, have gained nearly 175% in 2024.