Deep stock sell-offs at the beginning of the Covid-19 pandemic, coupled with stimulus payments to many Americans, created the perfect environment for app-based Broker-Dealers like Robinhood to thrive. With new pressures now facing stock and crypto investments, Earnest Analytics clients wanted to know:

• Which brokers gained the most customer and net deposits during and after quarantine?
• Where else do customers of the buzziest apps like Robinhood invest their money?
• How much did stimulus payments contribute to these apps’ growth?

They turned to Earnest Analytics dashboards and Direct Feed data to answer these questions. The data includes sales records for individual, anonymous households across their credit and debit card accounts that can provide a holistic view of shopper purchases. Direct Feed data is ideal for customer cohorting based on income, including government payments, to gain a full understanding of what is driving market dynamics among
investment platforms.

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