Robinhood Markets, Inc. Reports October 2023 Operating Data; Assets Under Custody At The End Of October Were $84.6B, Down 2% From September 2023
Portfolio Pulse from Benzinga Newsdesk
Robinhood Markets, Inc. (NASDAQ:HOOD) reported its October 2023 operating data, showing a 2% decrease in Assets Under Custody (AUC) to $84.6 billion from September 2023. Net Cumulative Funded Accounts (NCFA) slightly increased by 30 thousand. Net Deposits were $1.0 billion, with a 14% annualized growth rate from September 2023 and a 24% annual growth rate from October 2022. Trading volumes for equities, options, and crypto increased, with crypto volumes up 92%. Margin balances decreased by 3%, while Cash Sweep Balances increased by 2%. The information is unaudited and preliminary, subject to financial closing procedures.
November 15, 2023 | 9:25 pm
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NEUTRAL IMPACT
Robinhood's AUC decreased by 2% to $84.6B, but trading volumes and net deposits showed growth. NCFA increased slightly, and cash sweeps are up.
The decrease in AUC could be seen as a negative indicator, potentially impacting investor confidence in the short term. However, the increase in trading volumes, especially in crypto, and the growth in net deposits suggest a mixed impact. The slight increase in NCFA and cash sweeps also provide some positive signals. Overall, the mixed data points lead to a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100