Robinhood Gold Grew To $1.42M Subscribers As Of December 31, 2023 (Up 25% YoY) And Increased Their FDIC-Insured Cash Sweep Balances To Over $15B (Up Over 200% YoY) With An Average Of More Than $10K Per Subscriber
Portfolio Pulse from Benzinga Newsdesk
Robinhood Gold's subscribers increased to 1.42 million as of December 31, 2023, marking a 25% growth year-over-year. Additionally, their FDIC-insured cash sweep balances surged over 200% YoY, exceeding $15 billion, with an average of more than $10K per subscriber.
February 13, 2024 | 9:09 pm
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POSITIVE IMPACT
Robinhood's Gold service saw a significant increase in subscribers and FDIC-insured cash sweep balances, indicating strong growth and increased customer trust.
The substantial growth in Robinhood Gold's subscribers and the increase in FDIC-insured cash sweep balances reflect positively on Robinhood's financial health and its ability to attract and retain customers. This could lead to increased investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100