Fundstrat Global Advisors Head of Research Tom Lee compared Robinhood Markets Inc. (NASDAQ:HOOD) to Morgan Stanley (NYSE:MS) for the younger generation, drawing parallels to how discount brokers emerged for baby boomers in the 1980s.
What Happened: “I think it’s the Morgan Stanley of this young generation,” Lee said during an interview with Amit Kukreja. “What people forget is in the 1980s, Wall Street was this old boys network and a few brokers were starting up for the baby boomers.”
