Robinhood was paid over $330 million for order flow

Robinhood had a tumultuous first quarter that led to its CEO testifying before Congress, but it is becoming clear it was also an enormously lucrative period for the company.

A federal securities filing shows that Robinhood was paid $331 million by market-makers that execute stock and options orders for the broker’s clients in the first quarter, when the GameStop frenzy grabbed hold of the market. That is up from $91 million in the first quarter of 2020.

www.barrons.com/articles/robinhood-filing-shows-enormous-growth-in-controversial-revenue-source-51620065477?siteid=yhoof2ows+Enormous+Growth+in+Controversial+Revenue+Source+%7C+Barron%27s&url=https%3A%2F%2Fwww.barrons.com%2Farticles%2Frobinhood-filing-shows-enormous-growth-in-controversial-revenue-source-51620065477%3Fsiteid%3Dyhoof2