Robinhood Markets, Inc. Reports January 2024 Operating Data; Assets Under Custody At The End Of January Were $102.4B, Roughly Flat To December 2023; Trading Volumes In January Were Higher For Options, And Lower For Equities And Crypto Relative To December 2023
Portfolio Pulse from Benzinga Newsdesk
Robinhood Markets, Inc. (NASDAQ:HOOD) reported its January 2024 operating data, showing a slight increase in funded customers to 23.5 million and assets under custody remaining stable at $102.4 billion. Net deposits saw a 44% annualized growth rate, with trading volumes increasing for options but decreasing for equities and crypto. Margin balances and total cash sweep balances also saw modest increases.
February 15, 2024 | 9:34 pm
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Robinhood's January 2024 operating data shows stable assets under custody, increased net deposits, and varied trading volumes, indicating active customer engagement and potential revenue stability.
The stable assets under custody alongside the increase in net deposits and funded customers suggest a strong customer base and potential for revenue growth, especially from options trading. The mixed trading volumes indicate a shift in trading preferences among Robinhood's users, which could impact revenue streams from trading fees. However, the overall positive growth in net deposits and customer base is likely to be viewed positively by investors.
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