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Stocks

How To Sell Shares On Robinhood

Robinhood was founded in April 2013 by Vladimir Tenev and Baiju Bhatt, who had previously built high-frequency trading platforms for financial institutions in New York City. Robinhood Markets, Inc. is an American financial services company headquartered in Menlo Park, California, known for offering commission-free trades of stocks and exchange-traded funds via a mobile app introduced in March 2015. The company's name comes from its mission to "provide everyone with access to the financial markets, not just the wealthy". Tenev noted that executing a trade cost brokerages "fractions of a penny," but they typically charged fees of $5 to $10 per trade, as well as required account minimums of $500 to $5,000. 

Robinhood's original product was commission-free trades of stocks and exchange-traded funds. In February 2016, Robinhood introduced instant deposits, crediting users instantly for deposits up to $1,000; previously, funds took three days to appear via ACH transfer. In September 2016, they launched Robinhood Gold, a premium subscription plan that offers up to $50,000 in instant deposits, margin trading, and more market analytics. As of February 2017, the company had executed over $30 billion in trades. In August 2017, the company began offering free stocks in exchange for referring new users [3]. Robinhood has prohibited its users from purchasing some high-risk penny stocks, such as banning Helios and Matheson Analytics, the owner of MoviePass, in August 2018. Services not offered include retirement accounts, mutual funds, and bonds.

In October 2019, several major brokerages such as E-Trade, TD Ameritrade, and Charles Schwab announced they were eliminating trading fees quickly. Competition with Robinhood was cited as a reason. Although, Charles R. Schwab said that it was within his brokerage's intentions to eventually eliminate trading fees, as the firm had historically been a discount broker. Support for purchasing fractional shares and automatic dividend reinvestment was introduced in December 2019. Automatic recurring investments were introduced in May 2020.

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To sell a stock on using a mobile.

1. Navigate to the stocks detail page. Here you can find the stock's historical performance, analyst ratings, company earnings, and other helpful information to consider when selling a stock.

2. Tap Trade.

3. Tap Sell.

4. In the upper right corner, choose if you want to sell in dollars or shares.

5.Tap on Review to check over your order details to make sure everything is correct.

6. If all looks good, swipe up to submit your sell order.

To sell stock on the Web.

1. Navigate to the stocks detail page. Here you can find the stock's historical performance, analyst ratings, company earnings, and other helpful information to consider when selling a stock.

2. Click Sell in the order window on the right side of the screen.

3. Choose if you'd like to sell in dollars or shares using the drop-down menu. (See the amount available to sell at the bottom of the window)

4. Click Review Order to make sure everything is correct.

5. If all looks good, submit your sell order.

Robinhood is a FINRA-regulated broker-dealer, registered with the U.S. Securities and Exchange Commission, and is a member of the Securities Investor Protection Corporation. The company's revenue comes from three primary sources: interest earned on customers' cash balances, selling order information to high-frequency traders (a practice for which the SEC opened an investigation into the company in September 2020), and margin lending. As of 2020, Robinhood had 13 million users.

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