Robinhood Lures Tesla Investors with 2% Cash Bonus Ahead of Musk Pay Package Vote
Robinhood Markets is rolling out a targeted incentive ahead of Tesla's pivotal shareholder meeting. The trading platform now offers a 2% cash bonus for transferring Tesla shares, with Elon Musk himself amplifying the promotion through social media engagement. The campaign strategically targets long-term TSLA holders, requiring shares to be held since November 3 and maintained on the platform for a specified period.
Tension permeates the brokerage sector as Tesla's proxy vote on Musk's compensation package approaches. The offer's timing reveals Robinhood's aggressive customer acquisition strategy during a period of potential client migration from traditional brokers. HOOD shares responded positively to the maneuver, gaining 4.15% on Wednesday as the market digested the customer acquisition play.
