"The fact that Robinhood was able to raise $912 million, the last tranche received at the end of October, at a $7.6 billion valuation, told you the writing was on the wall, something that may also be the case for E-Trade, which, despite its venerable status as one of the first e-brokers and its $4 in earnings power, has a less than $10 billion valuation. Exact numbers are hard to come by, but Robinhood is thought to have almost as many accounts as E-trade, even as E-Trade, born in 1982, is thirty-one years older than Robinhood," wrote Cramer.
Cramer said that Robinhood understands millennials. But does E*Trade?
Here's what he has to say.
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