Robinhood Stock Jumps As Trading Volumes Surge
Portfolio Pulse from Adam Eckert
Robinhood Markets Inc (NASDAQ:HOOD) shares surged after announcing significant growth in February's operating data, including a rise in funded customers, net deposits, assets under custody, and trading volumes across all asset classes. Bernstein analyst Mahika Sapra initiated coverage on Robinhood with an Outperform rating and a price target of $30, contributing to the stock's rally.
March 14, 2024 | 12:47 pm
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Robinhood's stock price jumped following the announcement of positive February operating data and a bullish analyst rating from Bernstein.
The surge in Robinhood's stock price can be attributed to the reported increase in funded customers, net deposits, assets under custody, and trading volumes. Additionally, the initiation of coverage by Bernstein analyst Mahika Sapra with an Outperform rating and a $30 price target likely contributed to investor optimism and the stock's rally.
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