I think Robinhood scored big in getting him." "Steve is of strong character, intelligence, leadership competence, and experience in this space," says Skip Schweiss, a Quirk colleague at TDA for more than a decade and now CEO of Sierra Investment Management. "He is driven and fun to work with. He then led the business until TDA sold it to Schwab. TD Ameritrade bought thinkorswim from Tom Sosnoff and Quirk came along with the deal. See: Robinhood stock suffers sixth straight record low as its reverse 'fiduciary' conundrum goes unsolved, while CEO takes shots at 'gadflies' and eggheads In the process Robinhood's market cap has been pared to a mortal $13 billion. The shares rebounded from their 52-week low of $14.80, which it hit, today, in intraday trading. 6) 2.50%, shedding 40 cents to land at $15.58, a remarkable fall from its 52-week high of $85. Robinhood's shares (HOOD) closed down today (Jan. They had called for as much as a $42 a share debut. Robinhood went public at $38 last July at the low end of analysts' expectations.
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Since the IPO, Tenev has had his hands full with Securities and Exchange Commission (SEC) threats to its order-flow monetization strategy and crypto trading (its biggest revenue source). Vlad Tenev has seen his company slammed in the stock market. Robinhood cofounder, Vlad Tenev, is the current CEO and has attained high marks himself for taking the company from zero in 2013 to an IPO last summer and creating a class of "Robinhood" investors. "He's a brilliant, warm, enthusiastic leader who inspired great loyalty from his team at TD Ameritrade," Klein says. Gretchen Howard: 'Steve brings extensive industry experience.' Multiple sources, including Aaron Klein, CEO of Riskalyze, give Quirk high marks for the potential to climb higher rungs that transcend "trading" and boost confidence in the stock. See: Goldman Sachs nabs TD Ameritrade's Darla Sipolt for RIA custody Kate Healy, Jim Dario and Peter Dorsey are among 1,000 staffers cut by Schwab post TD merger Great fit Likely the executives signed a two-year noncompete for severance pay that recently expired and freed Quirk to join Robinhood, an inside source says. Quirk was put in limbo shortly after the TDA-Schwab merger closing when Schwab announced it was cutting him as part of a broader house cleaning that also claimed Steve Boyle, interim president, and chief executive officer, Tom Nally, president of TD Ameritrade Institutional, Prashant Bhatia, managing director of enterprise strategy and corporate development, Peter deSilva, president of retail, Vijay Sankaran, chief information officer and Joe Moglia, former chair and board member.
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