[Featured Stock] Robinhood Surges 50%, Related Stock 'Zoom Internet' Gains Over 10%

[Asia Economy Reporter Lee Seon-ae] On the 5th, Zoom Internet's stock price showed strong performance.

At 10 a.m. that day, Zoom Internet's stock price was trading at 7,790 KRW, up 10.34% from the previous trading day. It surged to 7,870 KRW in early trading.

This is interpreted as being influenced by the 50.4% surge of Robinhood, a U.S. online securities platform recently listed on Nasdaq, on the 4th (local time). The surge is believed to have been affected by support from a famous investor and collective buying by individual investors. According to CNBC, Cathie Wood, known in Korea by the nickname 'Donnamu Unni,' purchased 89,622 shares of Robinhood stock (worth approximately 4.2 million USD) through the ARK Fintech Innovation ETF the day before.

Robinhood is a stock trading platform that promotes zero commission fees and rapidly grew last year by attracting individual investors during the COVID-19 pandemic. Its revenue surged 245% compared to the previous year. Revenue in the first quarter of this year also increased by more than 300% compared to the same period last year.

Zoom Internet recently established 'Project Vanilla' in partnership with KB Securities and is currently piloting the simple MTS called 'Vanilla.' It is reported that a new type of simple trading system modeled after Robinhood will be launched within this year.