Robinhood is launching a tool for investors that analyzes breaking news, analyst reports, and its proprietary data to summarize why a stock is moving. This tool is the first UK product from Robinhood Cortex, its investment assistant, which debuted in the US earlier this year. Powered by Cortex, the tool provides summaries, or “digests,” explaining stock movements in the market.
The launch is part of a series of products Robinhood, known for commission-free trading, has introduced from the US to the UK. This move aligns with financial startups enhancing their AI offerings, either through foundational models like ChatGPT or tools based on in-house data sets. Robinhood says its tool uses AI and a data set that includes news, research reports, market data, analyst ratings, technical indicators, and aggregated trading data from its customers.
Robinhood states, “Digest delivers AI-powered summaries decoding what’s driving stock price movements, helping investors make informed decisions with clarity and confidence.” The summaries are meant to aid traders in research before executing trades. Jordan Sinclair, president of Robinhood UK, said, “We believe our UK customers—from first-time investors to seasoned traders—will appreciate the timely, accessible summaries that highlight what’s moving a stock, circumventing the need to manually gather information from multiple sources.”
Sinclair mentioned that the summaries help traders who may have heard about a stock but are unsure about its price movements. He noted it’s quicker to use the summaries than other methods. “If they went to ChatGPT, it would probably take them six different prompts to eventually get there. They still probably wouldn’t be quite sure what it meant for them.” He assured, “We ensure we have the right controls, the right guardrails.”
When asked if Robinhood was late with Cortex Digests, Sinclair responded, “I don’t see us being late; I would rather deliver a great product for customers.” Cortex Digests, free for UK users, started rolling out in the US and have already been utilized by hundreds of thousands of Robinhood customers.