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How to Buy Robinhood Stock (…And Is It a Good Buy??)

Robinhood is one of those things that comes along and disrupts the status quo. They pioneered the commission-free trade of stocks, ETFs, and cryptocurrency. The rise in crypto and the buzz among younger people for investing helped Robinhood position themselves well incredibly well in the market. Now people are asking themselves if Robinhood is a good investment, and subsequently…how to buy Robinhood stock!!

In this post, we’re going to answer the following questions about Robinhood:

  • Should you buy Robinhood stock? 
  • What is the Robinhood stock symbol?
  • What is the Robinhood stock price?
  • How to buy Robinhood shares

This post is written by our staff writer, Lindsey Smith!

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What is Robinhood?

As we discussed above, Robinhood has opened up investing to millions who may not have been able to or interested in investing before. The ability to buy fractional shares and the inclusion of crypto, as well as the no-commission strategy, make this an interesting choice for investing.

Where to start though? How do you actually buy Robinhood stock? Are they even public yet? What’s the stock price of Robinhood – and do you have to buy a full share? Never fear, this is a pretty simple one, and we’ve got all your questions covered.

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How to Buy Robinhood stock....and should you??Can I Buy Robinhood Stock?

Alright. So now we know that Robinhood is a platform where you can buy stocks and crypto…but how do you actually buy the company Robinhood? Where do you go and how can you find it?

First, you’ll need to know the Robinhood ticker symbol, or stock symbol.

Related: How to Invest in VOO (…And Should You??)

What is the Robinhood Stock Symbol?

Robinhood stock trades on the stock exchange with the stock symbol HOOD.

The company is a platform that offers commission-free trades of stocks, ETFs, and Cryptocurrency. It even offers shares of its own company, now that it’s IPO (so if you’re asking “How can I buy Robinhood stock?”….You can do it on Robinhood! ;)).

One of the things we love is that Robinhood offers fractional shares, meaning you can purchase Robinhood stock with any amount of money, you don’t have to purchase a full share to get into it.

Related: How to Invest in Cryptocurrency (…And Should You??)

How to buy Robinhood shares

Want to know the nitty gritty of how to buy Robinhood shares?

It’s pretty straightforward actually.

Of course, if you’re using Robinhoods’ platform, it’s going to be really easy. But the instructions should be similar for any platform.

  • Search for HOOD or Robinhood
  • Click to select – this should take you to a stock “about” page, where you can find details about its historical performance, analyst ratings, company earnings, and more.
  • Enter the dollar amount you would like to purchase in the order window. If you’re looking to buy full shares, choose shares from the drop down menu next to invest in.
  • Click review
  • Click confirm
  • Then, Click buy!

Voila!

If you’re on the Robinhood platform, and you have the Robinhood Instant Account, you’ll get the benefit of using Instant Settlement. This way you have access to $1000 in instant funds, and don’t have to wait the typical waiting period for your funds to load.

If you have the Robinhood Gold Account, you can get access to more than $1000 (whatever tier you’re on dictates what you’ll have instant access to).

If you’re on another platform, you’ll need to follow whatever rules they have about access to funds, or if you have funds waiting, you can purchase right away.

Related: Best Way to Invest $1,000 (8 Methods to Consider!)

When is Robinhood Going Public?

This is a question that still pops up quite a bit. When is Robinhood going public?

Well surprise surprise…It already did! 🙂

On July 29, 2021, Robinhood officially became IPO and started trading at about $38 per share. According to CNBC, the stock declined on its first official day of trading, but the following week, surged to well past its initial price.

How Does Robinhood Make Money?

Since the platform trades are free, how does Robinhood make money?

Today Robinhood makes its money from the smaller revenue streams on its platform, such as card fees, premium account fees, stock loans, and more.

There’s some risk involved in the way that Robinhood makes money from the app users. The SEC is said to be doing an investigation into market structure, and their business model is seen as being at risk if the rules change. So, if you’re looking to invest in Robinhood, watch out for that!

Related: Keep Investing Simple: The Secret to Wealth

Robinhood Stock Price?

How is Robinhood doing? Is it earning money? What is the Robinhood stock price today?

At the time of writing, Robinhood stock is trading for $14.15 USD per share. Since it began trading last July, Robinhood shares have seen a steady decline.

Should I Buy Robinhood Stock?

Robinhood sounds interesting for sure. You’re probably asking yourself, “Should I buy Robinhood stock?”

According to investors.com, Robinhood has posted revenue growth, and is still in the infancy of its trading life. Because trading is becoming popular with younger and younger people, and Robinhood tends to attract that crowd, it is well positioned for growth. This is a good stock to watch.

The analysts that are making Robinhood stock price predictions for 2022 estimate a high of 58.00, a low of 15.00, and a median of 23.00. As the stock is currently priced at 14.15, even if it only makes the low end of the predictions, you would still be ahead.

Of course, I’m not here to give strict financial advice. Every person is unique and has unique financial needs, so check in with yourself, and a qualified financial planner before purchasing.

But, if you’re sold on the idea of purchasing Robinhood stock, you’ll want to know how to buy Robinhood stock! Which is exactly why we wrote this article. 😉 

Check out the above and below, and you should have all the information you need to make that Robinhood stock purchase!

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How to Buy Robinhood Stock – Is It Right For You?

You came into this post wanting to know how to buy Robinhood stock. Thankfully for you, the Robinhood IPO already happened, so Robinhood is available to anyone that wants to buy.

Buying Robinhood stock is a fairly simple endeavor. Robinhood’s own app makes it easy and affordable, and the stock predictions look good. Since the price has declined over the time it’s been publicly traded, I would not expect Robinhood to be a big winner in the short term, and would use it as more of a long-term hold, while keeping my eye on the rules the SEC sets forth.

Something to think about as well is whether you’re an investor who only wants to invest in companies that are doing something you like, or something good. It’s nice to be involved in something that’s making investing easier and more affordable in general.

Did you learn how to buy Robinhood stock with this post? Do you think you’ll make the investment?

Grow Rich Investing Money

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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