FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

SCHEDULE OF FINANCIAL ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS

Financial assets and liabilities measured at fair value on a recurring basis as of the date indicated below were presented on our unaudited condensed consolidated balance sheets as follows:

	December 31, 2020
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,026,034	$	—	$	—	$	1,026,034
Cash and securities segregated under federal and other regulations:
U.S. Treasury securities	134,994		—		—		134,994
Other current assets:
Equity securities - user-held fractional shares	802,483		—		—		802,483
Equity securities - securities owned	3,222		—		—		3,222
Total financial assets	$	1,966,733	$	—	$	—	$	1,966,733
Liabilities
Accounts payable and accrued expenses:
Equity securities - referral program liability	$	695	$	—	$	—	$	695
Other current liabilities:
Equity securities - repurchase obligations	802,483		—		—		802,483
Total financial liabilities	$	803,178	$	—	$	—	$	803,178

	June 30, 2021
(in thousands)	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	1,927,574	$	—	$	—	$	1,927,574
U.S. Treasury securities	349,984		—		—		349,984
Other current assets:
Equity securities - user-held fractional shares	1,430,855		—		—		1,430,855
Equity securities - securities owned	18,874		—		—		18,874
Total financial assets	$	3,727,287	$	—	$	—	$	3,727,287
Liabilities
Accounts payable and accrued expenses:
Equity securities - referral program liability	$	389	$	—	$	—	$	389
Other current liabilities:
Equity securities - repurchase obligations	1,430,855		—		—		1,430,855
Convertible notes:
Convertible notes	—		—		5,189,783		5,189,783
Other non-current liabilities:
Warrant liability	—		—		382,513		382,513
Total financial liabilities	$	1,431,244	$	—	$	5,572,296	$	7,003,540

Financial assets measured at fair value on a recurring basis as of the date indicated below were presented on our consolidated balance sheets as follows:

	December 31, 2019				December 31, 2020
(in thousands)	Level 1		Total		Level 1		Total
Cash equivalents:
Money market funds	$	416,025	$	416,025	$	1,026,034	$	1,026,034
Cash and securities segregated under federal and other regulations:
U.S. Treasury securities	—		—		134,994		134,994
Other current assets:
Equity securities - user-held fractional shares	—		—		802,483		802,483
Equity securities - securities owned	2,997		2,997		3,222		3,222
Total financial assets	$	419,022	$	419,022	$	1,966,733	$	1,966,733

Financial liabilities measured at fair value on a recurring basis as of the date indicated below were presented on our consolidated balance sheets as follows:

	December 31, 2019				December 31, 2020
(in thousands)	Level 1		Total		Level 1		Total
Accounts payable and accrued expenses:
Equity securities - referral program liability	$	303	$	303	$	695	$	695
Other current liabilities:
Equity securities - repurchase obligations	—		—		802,483		802,483
Total financial liabilities	$	303	$	303	$	803,178	$	803,178

SCHEDULE OF SIGNIFICANT UNOBSERVABLE INPUTS

The significant unobservable inputs used in the fair value measurement of the convertible notes and warrant liability include:

	June 30, 2021
	Convertible notes		Warrant liability
Fair value of common stock	$	38.00	$	38.00
Volatility	N/A		56		%
Risk free rate	N/A		1.42		%

SCHEDULE OF CHANGES IN ESTIMATED FAIR VALUE OF CONVERTIBLE NOTES AND WARRANT LIABILITY

The following table sets forth a summary of the changes in the estimated fair value of our convertible notes and warrant liability:

(in thousands)	Convertible notes		Warrant liability
Beginning of period, January 1, 2021	$	—	$	—
Issued during the period	3,299,031		252,944
Change in fair value	1,890,752		129,569
End of period, June 30, 2021	$	5,189,783	$	382,513