💬 [E2049] No longer personally invested (sold at Gala). Goldman reduced EPS estimates 8%/5%/3% for 2026-2028. Lowered Q5-Q8 P/E to 37x, price target cut 6% to $102. Net new accounts 140k (9% annualized) reaching 27.4mn but equity volumes -14% MoM, options -10% MoM. App downloads fell 26% MoM. Maintain Buy rating. Key risks: lower retail engagement, rate cuts impacting NII, PFOF regulation.