Robinhood CEO Vlad Tenev Says 24-Hour Market Trading Volume Approaching $30B: 'We Are Really Excited'
Portfolio Pulse from Benzinga Neuro
Robinhood Markets Inc. (NASDAQ:HOOD) has reported that its 24-hour market trading volume is nearing $30 billion, despite recent technical challenges. CEO Vlad Tenev highlighted the feature's popularity and its role in the company's strategy. Despite an outage caused by a third-party provider, Robinhood remains committed to improving the system. The company's second-quarter earnings showed a 40% year-over-year revenue increase, reaching $682 million.

August 08, 2024 | 5:33 am
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Robinhood's 24-hour trading volume is nearing $30 billion, indicating strong user engagement despite recent technical issues. The company's Q2 earnings report showed a 40% year-over-year revenue increase, reaching $682 million.
The nearing $30 billion trading volume in Robinhood's 24-hour market trading feature demonstrates strong user engagement, which is a positive indicator for the company's growth. Despite technical challenges, the company's commitment to improving the system and its strong Q2 earnings report with a 40% year-over-year revenue increase are likely to positively impact the stock price in the short term.
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