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
Keywords: fintech, marathon digital holdings inc, business news, breaking news: technology, technology, venture capital, coinbase global inc, microstrategy inc,
Source: https://www.cnbc.com/2024/04/15/freetrade-britains-answer-to-robinhood-hits-breakeven.html