Hood Robinhood Markets Funded Customers At End Of May Were 24.1M Up ~120K From April 2024, Up 960K YoY
Portfolio Pulse from Benzinga Newsdesk
Robinhood Markets reported significant growth in key metrics for May 2024. Funded customers reached 24.1 million, up 120K from April and 960K year-over-year. Assets Under Custody (AUC) rose to $135 billion, a 9% increase from April and 65% year-over-year. Net Deposits were $3.6 billion in May, with a 35% annualized growth rate. Equity Notional Trading Volumes were $86.8 billion, up 23% from April and 76% year-over-year. Options Contracts Traded were 131.9 million, up 4% from April and 35% year-over-year. Crypto Notional Trading Volumes were $7.1 billion, down 30% from April but up 238% year-over-year. Margin balances were $4.5 billion, up 10% from April and 45% year-over-year. Total Cash Sweep balances were $20.3 billion, up 6% from April and 81% year-over-year. Total Securities Lending Revenue was $23 million, up 10% from April and 53% year-over-year.
June 11, 2024 | 8:08 pm
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POSITIVE IMPACT
Robinhood Markets reported strong growth in key metrics for May 2024, including a rise in funded customers, assets under custody, and trading volumes. This positive performance is likely to boost investor confidence and drive the stock price up in the short term.
The significant increases in funded customers, assets under custody, and trading volumes indicate strong operational performance and growth potential for Robinhood Markets. This is likely to positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100