Will 24-hour trading be common before we know it?
Robinhood's revenue and profitability are soaring due to increased trading activity and net deposits. The company has benefited in particular by a ~3x y/y jump in crypto trading, where it earns a rich spread. These trends continued into the start of Q2 in May. Robinhood also just launched in the UK at the end of Q1, fueling a brand-new market opportunity for the company.
Robinhood Markets, Inc. (HOOD) reachead $23.31 at the closing of the latest trading day, reflecting a -1.65% change compared to its last close.
Wu Ming spent much of Tuesday sitting alone in his empty Beijing hair salon, trading stocks on his phone.
At the time, shares of the stock trading platform had just broke out above the $19 level, which is half its initial public offering (IPO) price and coincides with a 50% year-to-date gain. A retest of that level presented a good entry point for a long position on HOOD.
Shares of Robinhood Markets Inc. NASDAQ: HOOD have already had a massive run so far into 2024. Still, the new up-and-comer asset manager must look for ways to keep delivering further growth for its investors and customers.
Recently, Zacks.com users have been paying close attention to Robinhood Markets (HOOD). This makes it worthwhile to examine what the stock has in store.
Since its late July 2021 IPO, Robinhood Markets (NASDAQ: HOOD ) stock has seen a tumultuous journey, yet its stock soared 137% over the past year. Diversified offerings and increased customer engagement drove this growth, alongside its best quarterly profit post-IPO.
Cryptocurrencies, artificial intelligence (AI), and new stock issuance are just a few of the catalysts that are propelling growth stocks to incredible heights. These catalysts and a few others have led to some stocks doubling their share price during the first five months of the year.
With an aim to expand globally and cater to institutional clients, Robinhood (HOOD) signs a deal to acquire Bitstamp for $200 million in cash. This will help diversify revenues beyond trading.
Shares of Robinhood (HOOD) shoot up on confirmation that it was buying Bitstamp in a $200 million deal.