Point72 contacts other investing apps after Robinhood data taken down - Business Insider

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Point72 has reached out to other trading platforms and investing apps in a hunt for new trading signals, according to people with direct knowledge of the outreach. Steve Cohen's hedge fund is just one of several hedge funds that have been reaching out in the last 24 hours, one of the people said. Point72 is among hedge funds scrambling to find alternative data sources after day-trading app Robinhood decided to stop providing data on which stocks are most popular on its platform, according to people with direct knowledge of its outreach.

The market-intelligence data team's job is to find and vet thousands of alternative data providers each year. A Point72 spokesperson declined to comment. "I've gotten plenty of emails from hedge funds, prop firms, other financial institutions who are interested in the data," Primozic said in the TV interview.Robinhood would stop publishing how many clients held a particular stock, citing a Robinhood spokesperson who said the data was often "misconstrued" and "misunderstood." The spokesperson also told the business news website that the company will limit access to its API.

Avast's Jumpshot was permanently shut down due to privacy issues while Envestnet's Yodlee dealt with congressional inquiries.

The alternatives and proxies for Robinhood's popularity data are out there, but one needs to know where to look at

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