Is Robinhood making money off those day-trading millennials? Well, yes. That’s kind of the point.
As the twin black swans of the coronavirus pandemic and the historic oil price collapse rocked financial markets early in 2020, opportunities emerged.
So did media narratives.
One of the most popular: that bored young people, stuck at home with no access to sports or bars or live entertainment, went day-trading instead, in many cases with an online brokerage that seems tailor-made for the…