Robinhood is creating a social network

Robinhood is now beta testing a Twitter-like social media platform called Robinhood Social. The trading-focused platform was announced last September at the company’s HOOD Summit, but will be rolled out to the 1,000 people who attended the event and will expand to “an additional 10,000 customers over the coming weeks,” according to Robinhood.

On Robinhood Social, which is very similar to Twitter or Threads, based on screenshots, users will be able to create a profile, create posts about their trades, and complete trades from their feed. The company also promises to launch additional features during the beta, including news feeds and “the ability to follow insiders, hedge funds and politicians.”

Robinhood aims to take Robinhood Social out of beta “as quickly as possible.”

“We’ve heard directly from active traders that they rely heavily on social media to navigate the markets.” Robinhood says. “But in this day and age, understanding what’s real and what’s not is harder than ever. We hope to change that with Robinhood Social, where customers will be able to follow other Robinhood traders, swap strategies, discuss market movements, and trade clearly. Plus, they can trust that every customer profile belongs to a real person, and is verified through KYC.”