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Robinhood closing 5 additional offices in restructuring
Market strategist Brian Belski predicts rebound for 2023
BMO Capital Markets chief investment strategist Brian Belski breaks down the market and shares his predictions for the next two years.
Robinhood Markets Inc. is partially or completely closing five more of its offices as part of a restructuring program announced in August.
According to an 8-K filing with the U.S. Securities and Exchange Commission, four of the locations are recent leases that have not been occupied. The financial services giant expects the new closures to generate additional run-rate savings of approximately $4 million per quarter between the fourth quarter of 2022 and the first quarter of 2024.