Vlad Tenev may no longer be the villain as he hopes to capitalize on Robinhood’s recent publicity. He recently announced via Twitter that Robinhood would be starting a new brokerage service called ‘Robinhood YOLO’ which will be the first ever options only trading platform, that only allows its users to purchase out of the money options and will not allow users to buy options more than 2 weeks out.
Tenev stated “We are hoping to capitalize off the emerging meme investor market. With WSB quickly approaching 10 million subscribers, there is clearly a huge market for this. We want the original Robinhood to become more Fidelity like for serious investors to buy and hold stocks while we quarantine the autism of sorts to a different platform.”