Today’s discussion will focus on the second quarter of 2022. For detailed disclosures on these measures and the GAAP reconciliations, you should refer to the financial data contained within our press release, which is also on the IR website. In our presentation today, unless otherwise noted, we will be discussing adjusted financial measures, which are non-GAAP measures that we believe are meaningful when evaluating the company’s performance. As a reminder, we are not required to update forward-looking statements. We discuss these risk factors in our SEC filings, including in our quarterly report form on 10-Q for this quarter, which we will file soon and can be found on the IR site as well. During the course of this call, we may make forward-looking statements based on current expectations, forecast and projections of today’s date.Īny forward-looking statements that we make are subject to various risks and uncertainty, and there are important factors that could cause actual outcomes to differ materially from those included in statements. There’s also accompanying investor presentation on our Investor Relation page. This conference call is being webcast live and will be available for replay 30 days, beginning about one hour after the conclusion of the call. Just after market close today, we issued a press release announcing Forge’s second quarter financial results. They will share prepared remarks regarding the quarter results, and then take your questions at the end. Joining me today are Kelly Rodriques, Forge’s CEO and Mark Lee, Forge’s CFO. Thank you, Abby, and thank you all for joining us today for Forge’s second quarter 2022 earnings call. I would now like to turn the conference over to Dominic Paschel, Senior Vice President at Forge. After today's presentation, there will be an opportunity to ask questions Please note that this event is being recorded and transcribed. All participants will be in a listen-only mode. Ladies and gentlemen, good afternoon, and welcome to Forge’s Second Quarter Fiscal 2022 Financial Results Conference Call. Kelly Rodriques - Chief Executive Officer ( NYSE: FRGE) Q2 2022 Earnings Conference Call Aug5:00 PM ET stock a month. It’s now $27 billion a month.Forge Global Holdings, Inc. It was a juicy opportunity for a lot of these people,” Eric Liu, head of research at Vanda Research, explained.Īccording to Vanda’s data, leading up to 2020, retail investors were net buying about $6 billion worth of U.S. “You saw the largest drawdown of the last decade. This explosion didn’t happen just because everyone was stuck at home. It started before the pandemic. In 2019 zero-fee trading became the norm. Brokers also made it easier to trade fractions of high-priced stocks instead of whole shares. And, then, stocks plunged at the beginning of the pandemic. Hollywood joined an estimated 10 million people who started trading stocks in 2020, a record, according to JMP Securities. The financial investment firm Charles Schwab recently surveyed these investors. Andrew D’Anna, a senior vice president at Schwab, said the survey found “the average age is younger, at about 35 versus 48 for existing investors in the survey, but a third are Gen X or above.” (Charles Schwab is a Marketplace underwriter.) “I always just thought it was a little bit more intense or harder to get into, but when my friend came back and showed me the app he was using, I saw how easy it was to actually do, so I started trading the next day,” he said. He started investing in stocks for the first time in June of last year. One of those stock market rookies is John Hollywood, a motorcycle salesman in Las Vegas. That is reflected in the way the market behaves these days, which is quite differently than a few years ago. They have pumped billion of dollars into the stock market. Millions of people joined the ranks of stock investors for the first time in 2020.
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