Vlad Tenev, Robinhood's founder and chief executive officer, talks about new tools its using to attract more "sophisticated investors" to the platform. Customers will be able to trade more futures contracts.
Robinhood co-founder and CEO Vlad Tenev joins 'Squawk Box' to discuss the company's first-ever 'Hood Summit" in Miami, the rollout of new advanced trading features, betting on the 2024 election, trading crypto, the formation of AI research lab Harmonic, and more.
Robinhood Legend includes advanced charting tools for users. The brokerage firm also said it will soon add futures trading and index options to its mobile platform.
Robinhood Markets Inc (NASDAQ:HOOD) has launched its long-awaited desktop trading platform, 'Robinhood Legend', and added futures and index options trading to its mobile app. The fintech company, which became popular with retail investors, is now aiming to compete with traditional brokerages by expanding its services to cater to more experienced traders.
Robinhood launched its long-awaited desktop platform and added futures and index options trading features to its mobile app on Wednesday, as the fintech firm aims to take market share from traditional brokerages.
Robinhood's funded customer base grew 34% since 2021, reaching 24.2 million accounts by Q2 2024, indicating strong engagement. AUC surged 72.6%, rising from $80.9 billion in Q1 2021 to $139.7 billion in Q2 2024. Millennials hold 50% of Robinhood's total AUC ($79 billion), positioning them as a critical target demographic for future growth.
Robinhood stock is on fire. Will the good times last?
Robinhood is holding two more events for investors later this year, and they could drive the company's performance for years to come.
Cathie Wood's ARK Invest made headlines on October 9, 2024 by offloading nearly 1.5 million shares of Robinhood Markets (NASDAQ: HOOD), cashing in on the stock's recent surge to a 52-week high. The sale came after Robinhood stock jumped 9.
Shares in Robinhood Markets (HOOD) could remain in focus on Wednesday after jumping nearly 10% yesterday following the announcement of the online trading platform's inaugural investor day and news of a price target boost from Barclays.
Robinhood Markets (HOOD) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Robinhood rallies to break out after a string of target hikes from analysts ahead of Q3 results. HOOD stock nearly doubled in 2024.