Charles Schwab: Digital Asset Push, PDT Rule, Cheap

The Charles Schwab Corporation remains a dominant wealth management platform, attracting new assets and expanding services. SCHW delivered Q1 net revenues up 16% Y/Y to $6.5B, expanded profit margins to 49.2%, and the platform grew core net new assets by $140B, or 2% year-over-year. Charles Schwab announced a push into digital assets (cryptocurrencies) and is relaxing intraday trading rules, allowing more accounts to access its margin services.