Robinhood Markets CEO: ‘The vast majority of our customers engage in buy and hold activities and long term investing’

Robinhood Markets CEO Vlad Tenev testifies before the House Committee on Financial Services on the GameStop short frenzy.

Video Transcript

- How do you make the determination of individuals who are not the sophisticated investors and allowing them to buy these risky stocks that are on margin?

VLAD TENEV: Thank you, Congressman, for the opportunity to address that. Let me set the stage a little bit by saying that about 2% of our customers borrow on margin. About 13% on a monthly basis perform an options transaction. And a much smaller number, around 3%, perform a multi-leg options transaction. So the vast majority of our customers are engaging in buy and hold activities and long-term investing on our platform.