Robinhood August 2024 Operating Data Funded Customers Reach 24.3M, +60K From July, +1M YoY; Assets Under Custody Total $143.6B, -1% From July, +60% YoY; Trading Volumes Include $96.2B In Equity; -8% MoM; 146.9M Options Contracts, -8% MoM; $5.4B In Crypto, +2% MoM; Margin Balances $5.5B, Cash Sweep Balances Rise To $22.8B; Securities Lending Revenue Totals $18M, -14% From July, +6% YoY
Portfolio Pulse from Benzinga Newsdesk
Robinhood's August 2024 data shows a mixed performance with an increase in funded accounts and assets under custody year-over-year, but a decline in trading volumes month-over-month. Crypto trading saw a slight increase, while securities lending revenue decreased from July.

September 09, 2024 | 8:11 pm
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NEUTRAL IMPACT
Robinhood's August 2024 data shows growth in funded accounts and assets under custody year-over-year, but a decline in trading volumes month-over-month. Crypto trading increased slightly, while securities lending revenue fell from July.
The increase in funded accounts and assets under custody is positive for Robinhood, indicating growth in user base and managed assets. However, the decline in trading volumes, particularly in equities and options, could be a concern for revenue generation. The slight increase in crypto trading and cash sweep balances is a positive sign, but the drop in securities lending revenue may offset these gains. Overall, the mixed data suggests a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100