The shares of Robinhood Markets Inc. HOOD, + 14.00% closed 14% in trading on Monday, after a Bloomberg News report said FTX, the cryptocurrency exchange run by Sam Bankman-Fried, was investigating whether it could buy Robinhood. The report, citing numerous anonymous sources, said FTX was “discussing internally” how it could acquire Robinhood. He also says FTX has not formally approached Robinhood about a potential deal. Bankman-Fried told MarketWatch in an e-mail statement that his company was “excited about Robinhood’s business prospects and the potential ways we can partner with them,” but did not engage in active merger discussions with Robinhood. A Robinhood spokesman declined to comment. Shares of Robinhood were suspended shortly before 15:00 east and resumed trading shortly before 15:10 east. Shares have lost 49% so far this year as the S&P 500 SPX, -0.30%, fell 18%.
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