Streetbeat News

HOOD

Robinhood Markets, Inc.

Industry

Software - Infrastructure

Robinhood Markets, Inc. operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), options, gold, and cryptocurrencies. The company also offers various learning and education solutions comprise Snacks, a digest of business news stories; Learn, which is a collection of approximately articles, including guides, feature tutorials, and financial dictionary; Newsfeeds that offer access to free premium news from various sites, such as Barron's, Reuters, and The Wall Street Journal; lists and alerts, which allow users to create custom watchlists and alerts to monitor securities, ETFs, and cryptocurrencies, as well as cash management services; and offers First trade recommendations to all new customers who have yet to place a trade. Robinhood Markets, Inc. was incorporated in 2013 and is headquartered in Menlo Park, California.

Open

31.89

Mkt cap

29B

Volume

14M

High

32.35

P/E Ratio

55.72

52-wk high

34.32

Low

31.26

Div yield

N/A

52-wk low

7.92

Robinhood Markets shares are trading higher after the company reported May operating data.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 3:51 pm

JMP Securities analyst Devin Ryan has reiterated a Market Outperform rating for Robinhood Markets (NASDAQ:HOOD) and maintained a price target of $30.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 3:36 pm

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.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:08 pm

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading lower due to a dip in Bitcoin prices and increased competition from Robinhood Markets, Inc. (NASDAQ:HOOD), which recently acquired Bitstamp Ltd. Coinbase has also introduced a new smart wallet to improve the crypto onboarding process.

Portfolio Pulse from Erica Kollmann

June 11, 2024 | 4:38 pm

Cathie Wood-led Ark Invest sold $7.6 million worth of Robinhood shares amid market fluctuations, including meme stock activity and cryptocurrency volatility. The sales were executed through three of Ark's ETFs: ARKF, ARKK, and ARKW. Other trades included sales of Exact Sciences, Teladoc Health, and Verve Therapeutics shares, and purchases of Arcturus Therapeutics, Intellia Therapeutics, and Veracyte shares.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 2:28 am

Robinhood Markets shares are trading higher due to the recent Bitstamp acquisition and the resurgence of 'meme stocks' popular among retail investors.

Portfolio Pulse from Benzinga Newsdesk

June 10, 2024 | 5:55 pm

The article highlights significant options activity for several financial stocks, indicating potential trading opportunities. Notable mentions include bearish call options for HOOD, PYPL, C, and SQ, and bullish call options for KKR, SOFI, and TOST. Additionally, USB and WFC saw bullish put options, while LMND had a neutral call option.

Portfolio Pulse from Benzinga Insights

June 10, 2024 | 5:35 pm

A new research report highlights the growing mainstream adoption of digital assets, driven by regulatory advancements and strategic industry moves. Key players like Galaxy Digital Holdings and Core Scientific are well-positioned to benefit from this trend.

Portfolio Pulse from Murtuza Merchant

June 10, 2024 | 3:20 pm

This week in crypto saw significant events including 50 Cent's Bitcoin earnings, Cathie Wood's bold Bitcoin prediction, a surge in a cat-themed cryptocurrency due to Roaring Kitty's livestream, and a sell-off in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. Additionally, Shiba Inu experienced a spike in its burn rate, leading to bullish sentiment.

Portfolio Pulse from Benzinga Neuro

June 09, 2024 | 12:00 pm

The stock market hit record highs with the S&P 500 and Nasdaq 100 indices leading the charge. The tech sector, especially chipmakers tracked by the iShares Semiconductor ETF (SOXX), drove gains. Nvidia (NVDA) briefly surpassed Apple (AAPL) in market valuation. Central banks cut rates, but a tight US jobs report dampened hopes for Fed rate cuts. Robinhood (HOOD) surged after acquiring Bitstamp. BlackRock (BK) and Citadel Securities plan a new stock exchange in Texas.

Portfolio Pulse from Piero Cingari

June 07, 2024 | 8:25 pm

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