An electronic screen at Nasdaq displays Robinhood in New York's Times Square following the company's IPO, Thursday, July 29, 2021. Robinhood is buying a company that helps people communicate with the businesses whose shares they buy. Robinhood Markets said Tuesday, Aug. 10, 2021 that it agreed to buy Say Technologies for about $140 million in cash. (AP Photo/Mark Lennihan, File)
NEW YORK (AP) — Robinhood, the trading app that's brought millions of new investors to the stock market, is buying a company that helps people communicate with the businesses whose shares they buy.
Robinhood Markets said Tuesday that it agreed to buy Say Technologies for about $140 million in cash. Say helps publicly traded companies hear what questions their investors want answered, and it helps investors vote at companies' annual meetings on everything from whether the CEO is overpaid to who should sit on the board of directors.
“We share a common goal of eliminating the barriers that keep people from participating in our financial system,” Robinhood Chief Product Officer Aparna Chennapragrada said in a blog post.
Say's Q&A platform allows investors to ask questions of companies, with investors voting on which questions they most want answered.
After the earnings release for AMC Theatres on Monday, for example, executives took questions first from their investors through the Say platform. Only after them did the executives take questions from Wall Street analysts. The first question was about whether AMC would pay a dividend again, one that got 63,500 votes from investors. CEO Adam Aron told them it cannot pay a dividend until about a year from now, at the earliest.
Shares of Robinhood flipped from a small loss to a gain of 1.5% in the first few minutes of trading on Tuesday. They've swung sharply since they began trading in late July at $38, bouncing between $33.25 and $85.7 Travel Stocks to Buy as Summer Kicks Into High Gear
The last 18 months have created much uncertainty in the market. And it has been a catalyst for the gamification of stock trading. However, there was one prediction that looked like a good bet then and does even more so now. That prediction was that Americans would begin to travel en masse as soon as they possibly could.
While America may not be back to a pre-pandemic normal, it’s much closer than it was just six months ago. And Americans are making investors in travel stocks very happy.
But is this a case of the easy gains being gone? Should investors be concerned about the Delta variant of the novel coronavirus that is causing public health restrictions to be enacted in certain areas of the world?
At this point, neither of those statements seems to be true. That’s why we’ve put together this special presentation that focuses on travel stocks. We’ve looked at different sectors of the travel category and selected a sample of companies whose stocks look like good investments for the rest of 2021 and likely beyond.
View the "7 Travel Stocks to Buy as Summer Kicks Into High Gear"