Robinhood Markets Assets Under Custody At End Of May $81.8B, Up 6% From Apr.; Net Deposits $1.6B, Representing Annual Growth Rate Of 25% From May
Portfolio Pulse from Benzinga Newsdesk
Robinhood Markets reported $81.8B in assets under custody at the end of May, a 6% increase from April. Net deposits for the month were $1.6B, representing a 25% annual growth rate from May.
June 12, 2023 | 12:33 pm
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Robinhood's assets under custody grew 6% to $81.8B in May, with net deposits of $1.6B, indicating a 25% annual growth rate.
Robinhood's increase in assets under custody and net deposits demonstrates strong growth in its user base and revenue generation. This positive news is likely to have a short-term positive impact on the stock price of $HOOD.
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