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Freetrade, Britain's answer to Robinhood, posted its first quarterly profit - TL;DR CNBC

Freetrade, Britain's answer to Robinhood, posted its first quarterly profit

Publishing timestamp: 2024-04-15 07:02:11


Summary

Freetrade reported adjusted EBITDA of 100,000 in Q1 2024, marking its first move into profitability. Despite reduced valuation, the company saw growth in revenue and reduction in losses in 2023. Freetrade's CEO remains optimistic about the future, with plans for major product developments and expansion. The company's performance was driven by higher trading volumes, foreign exchange income, and increased retail investor activity, including in crypto-correlated stocks.


Sentiment: POSITIVE

Tickers: MARACOINMSTR

Keywords: fintechmarathon digital holdings incbusiness newsbreaking news: technologytechnologyventure capitalcoinbase global incmicrostrategy inc

Source: https://www.cnbc.com/2024/04/15/freetrade-britains-answer-to-robinhood-hits-breakeven.html


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