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Invest at PayPal could compete with Robinhood and Square’s retail stock trading

August 30, 2021

Via: The Verge

The next platform to host a rush on stocks like GameStop and AMC could be PayPal, as CNBC reports the company hired a brokerage industry vet to lead the effort. CNBC points out that Rich Hagen served as Ally Invest president after that company acquired a startup he co-founded called TradeKing, and now his LinkedIn page lists him as the CEO of Invest at PayPal.

The meme stock trading action of the last year may have convinced PayPal it can’t let Robinhood or Square take over the market of retail investors who want to easily trade individual stocks.

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