Get started

HOOD

Robinhood's Earning's Preview: Dissecting the Q1 2024 ResultsRobinhood ( NASDAQ:HOOD ) has achieved record revenues and profitability in Q1 2024, driven by growth in cryptocurrency, options, and equities trading. The company's earnings report for Q1 2024 showed a 40% increase in total net revenues, primarily driven by transaction-based revenues. Cryptocurrency trading revenues soared by 232% to reach $126 million, reflecting the growing popularity of this market among retail investors. Options trading also contributed significantly to transaction-based revenues, generating $154 million, a 16% increase compared to the previous year. Equities trading revenue increased by 44% to reach $39 million. Robinhood's profitability metrics showed remarkable improvement, with a net income of $157 million for Q1 2024, compared to a net loss of $511 million in Q1 2023. Adjusting for non-recurring items, Robinhood's Adjusted EBITDA soared by 115% year-over-year to reach $247 million. Robinhood's user base data showed a year-over-year increase of 810,000 Funded Customers, investment accounts, and assets under custody (AUC) reaching 24.9 million. The company's average Revenue Per User (ARPU) increased by 35% year-over-year to $104, demonstrating its ability to monetize its growing user base effectively. Robinhood Gold, the company's premium subscription service, also experienced substantial growth, with subscribers reaching a new high of 1.7 million, representing a 42% increase compared to the previous year. Robinhood's Q1 2024 financial report showcased impressive growth and customer engagement, highlighting the company's strategic initiatives to drive growth and solidify its position as a leading financial services provider. The company has focused on expanding its product offerings, exploring new markets, and innovating its platform to cater to evolving user needs. Robinhood Gold, its premium subscription service, is a key driver of customer engagement and revenue growth. The company announced the launch of a 1% unlimited deposit boost for Gold subscribers and introduced the Robinhood Gold Card, a credit card exclusively for Gold subscribers. Robinhood ( NASDAQ:HOOD ) has also expanded its offerings to recognize the growing demand for retirement planning tools, with the 3% retirement transfer match promotion attracting over $4 billion in retirement assets transferred from competing brokerage firms. International expansion remains a key element of Robinhood's growth strategy, with full availability in the United Kingdom in March 2024. Robinhood's 24-hour Market has extended trading access for customers, resulting in record overnight trading volumes. However, Robinhood ( NASDAQ:HOOD ) faces potential risks and regulatory headwinds that could impact its future growth and profitability. Regulatory scrutiny, particularly regarding cryptocurrency trading operations, is a significant concern. The company's reliance on the Payment for Order Flow (PFOF) model presents a potential vulnerability, as regulatory changes or potential bans on PFOF could disrupt this revenue stream and necessitate adjustments to Robinhood's business model. Market volatility poses a challenge for Robinhood ( NASDAQ:HOOD ), as fluctuations in asset prices and trading volumes can impact transaction-based revenues. The company must remain adaptable and responsive to changing market conditions to mitigate these risks and ensure sustainable growth. Technical Outlook Robinhood stock ( NASDAQ:HOOD ) is up 1.5% trading within the 50-day Moving Average (MA) with a Relative Strength Index (RSI) of 55.78 which is moderate and prime for further surge.
NASDAQ:HOODLong
by DEXWireNews
Robinhood Gain as Retail Trading Rebound Powers Record QuarterRobinhood shares ( NASDAQ:HOOD ) rose after the retail brokerage reported stronger-than-expected first-quarter results, with net income of $157 million, or 18 cents per share, and record revenue of $618 million. Cryptocurrency transactions accounted for $126 million in revenue in the quarter. The company's earnings per share and revenue numbers were both records for the firm, and the stock jumped more than 5% in after-hours trading. Robinhood ( NASDAQ:HOOD ) surged in popularity during the Covid-19 pandemic in 2020 and 2021, but has since seen user activity and revenue mirroring market action. Regulatory uncertainty has clouded the future of the company's cryptocurrency business, with the U.S. Securities and Exchange Commission issuing a Wells Notice to the company, signaling potential legal enforcement action over the company's cryptocurrency business. Robinhood's chief legal, compliance and corporate affairs officer, Dan Gallagher, expressed disappointment in the SEC's decision and believes that the crypto assets on its platform are not legally securities. The company reported a year-over-year increase in funded customers to 23.9 million and assets under custody to $129.6 billion.
NASDAQ:HOOD
by DEXWireNews
SEC issues Robinhood Crypto with Wells NoticeRobinhood ( NASDAQ:HOOD ) Markets has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) citing alleged securities violations. The crypto unit of Robinhood Markets, Robinhood Crypto, received the notice on May 4. The SEC staff has made a preliminary determination to recommend an enforcement action against Robinhood Crypto, alleging securities violations. Robinhood Markets, Inc., ( NASDAQ:HOOD ) Chief Legal, Compliance and Corporate Affairs Officer, Dan Gallagher, expressed disappointment that the agency has decided to issue a Wells Notice related to their U.S. crypto business. Last year, Robinhood ( NASDAQ:HOOD ) Markets said it had received an investigative subpoena from the SEC related to listings of cryptocurrencies. The SEC has previously targeted decentralized crypto exchanges like Uniswap and Coinbase, and Ethereum development studio Consensys. Consensys later moved to sue the SEC, arguing that regulating ether as a security would jeopardize the U.S.'s ability to use Ethereum and other blockchains. The implications of regulating ether as a security would extend beyond digital asset trading, jeopardizing the future of innovations, products, and U.S. jobs that the next generation of the Internet will unleash.
NASDAQ:HOODLong
by DEXWireNews
📈🚀 Robinhood (HOOD) Growth Analysis 📊💰User Growth Momentum: NASDAQ:HOOD demonstrates impressive user growth driven by strategic promotions and incentives, solidifying its position with 23.6 million funded accounts as of February. Institutional Investor Appeal: Initiatives like the 3% match on IRA contributions attract institutional investors, boosting assets under custody to $118.7 billion. Revenue Diversification: Subscription revenue, particularly from Gold membership, saw a 25% increase in Q4 and is expected to rise further with continued advertising and promotions. Trade Projection: Bullish stance above $14.50-$15.00. Upside target of $28.00-$30.00 reflects potential growth and value appreciation as Robinhood expands its user base and revenue streams. 📈💡 Stay tuned for HOOD's growth trajectory! #Robinhood #FinancialIndustry 🚀📊
NASDAQ:HOODLong
by Richtv_official
HOOD EARNINGS CHART, THE LITTLE FEATHER THAT COULDHood potential earnings chart. I labeled the important stuff within the chart. There is a big trend line that I don't think will hit because it takes price down to $3, which I guess is theoretically possible. I think 8.45 is a more real price and if that price hits, it seems the price can get up to $13. It can also go the other way, upside first to $13. I drew a small guideline for a potential path, but there are many, focus on the price targets and trends. And again, 8.45 is a really strong price support target. Good luck.
NASDAQ:HOODLong
by nicktussing77
HOOD post earnings continuation LONGHOOD reversed from a triple bottom at earnings and has been uptrending since then. Fundamentally accounts and money inflow has increased. HOOD now has a credit card with 3% cash back. Low commissions, options, IPOs IRAs are all part of HOOD's services. The Price Momentum Oscillator and Relative Trend Index indicator both support a bullish bias. I will take a long position here at the beginning of another quarter while rate cuts may trading and HOOD's current trend. The trend is forecasted to continue. I see a Doji candle as suitable for the long entry.
NASDAQ:HOODLong
by AwesomeAvani
1
Robinhood Stock Surge Amidst New Credit Card LaunchRobinhood Markets Inc., ( NASDAQ:HOOD ) the disruptive force behind commission-free trading, is poised to revolutionize the financial landscape once again with the introduction of its Robinhood Gold Card. This groundbreaking venture marks Robinhood's expansion beyond its traditional brokerage services into the realm of financial services, positioning itself as a comprehensive financial platform for the modern consumer. The Robinhood Gold Card, exclusively available to members of the firm's subscription-based Gold program, is set to redefine the credit card experience. Offering unparalleled benefits with no annual fees or foreign transaction charges, the card boasts an impressive 3% cashback on all categories of purchases. This generous rewards structure eclipses competitors like JPMorgan Chase & Co.'s Chase Sapphire Reserve, which limit similar rewards to select transactions. Robinhood's CEO, Vlad Tenev, expressed ambitious aspirations for the Gold Card, stating, "Our goal is to enter this market in a big way." Tenev emphasized the company's commitment not merely to introduce a credit card, but to pioneer a product that sets industry standards and propels financial innovation forward. Market response to Robinhood's ( NASDAQ:HOOD ) announcement has been overwhelmingly positive, with the company's shares skyrocketing by 6.9% to $20.61 in early trading following the news. This surge builds upon an already impressive trajectory, with Robinhood's stock rising by 51% through the close of trading on Tuesday, far outpacing the broader market. However, the Gold Card launch represents only one facet of Robinhood's strategic evolution. The company has been steadily diversifying its offerings, transcending its origins as a retail brokerage service. Last year, Robinhood unveiled a retirement product, signaling its commitment to long-term financial planning. The response has been remarkable, with over 500,000 Robinhood retirement accounts opened by the end of last year, boasting deposits totaling $1.7 billion. This figure has since surged to over $3 billion by February, underscoring the growing trust and engagement of Robinhood's customer base. Central to Robinhood's expansion into the credit card space is its acquisition of credit card issuer X1 Inc. for approximately $95 million. With co-founder Deepak Rao assuming the role of general manager of credit cards for Robinhood, the company is well-positioned to navigate the complexities of the credit card industry and drive the Gold Card rollout to new heights. The introduction of the Robinhood Gold Card marks a pivotal moment in the company's trajectory, solidifying its transition from a trading app to a financial powerhouse. By offering innovative financial products with customer-centric features, Robinhood is redefining the way consumers engage with their finances, setting the stage for a new era of financial empowerment and accessibility. Technical Outlook Robinhood stock ( NASDAQ:HOOD ) is trading above the 200-day Moving Average with a positive Relative Strength Index (RSI) of 69.70 indicating further price breakthrough. In an increasingly competitive landscape, Robinhood's bold vision and relentless pursuit of innovation are reshaping the future of finance, empowering individuals to take control of their financial destinies like never before. As the Gold Card rollout gains momentum, Robinhood's journey toward becoming a holistic financial platform is poised to revolutionize the industry and redefine the expectations of modern consumers.
NASDAQ:HOODLong
by DEXWireNews
Cathie Wood's Ark Invest Dumps $123M Worth of Coinbase stockCathie Wood's Ark Invest has divested approximately $123 million worth of shares in Coinbase ( NASDAQ:COIN ) and Robinhood ( NASDAQ:HOOD ) this week, signaling a significant shift in sentiment towards cryptocurrency-related stocks. Ark Invest, known for its bullish stance on disruptive technologies, made headlines as it offloaded substantial holdings in both Coinbase ( NASDAQ:COIN ) and Robinhood amid a surge in their stock prices. However, the timing of the divestments coincided with a notable slump in the prices of these companies' shares, raising questions about the firm's outlook on the crypto market. The divestment spree began on Friday, March 22, with Ark Invest selling off about $55.60 million worth of NASDAQ:COIN stock. The firm's ARK Innovation ETF (ARKK) witnessed a massive dump of 151,271 Coinbase shares, while ARK Next Generation Internet ETF (ARKW) and Ark Fintech Innovation ETF (ARKF) also registered significant divestments. This sell-off continued throughout the week, with Ark Invest shedding approximately $52.27 million worth of Coinbase stock on Thursday alone. The total weekly divestment amounted to a staggering $115.16 million, reflecting Ark Invest's bearish stance on crypto stocks in the short term. The timing of Ark Invest's divestments is notable, as it coincided with fresh 52-week highs for both NASDAQ:COIN and NASDAQ:HOOD stocks. However, the subsequent slump in prices following Ark Invest's sell-off raises questions about the firm's rationale and outlook on the crypto market. Cathie Wood's bearish outlook on crypto stocks contrasts with her firm's previous investments in disruptive technologies. This shift in sentiment suggests a cautious approach towards the volatile crypto market, with Ark Invest opting to reduce its exposure to Coinbase and Robinhood amid uncertain market conditions. While the massive dump from Ark Invest may raise concerns among investors, it also highlights the firm's proactive approach to managing its investment portfolio. By reassessing its positions in response to changing market dynamics, Ark Invest aims to navigate the volatile crypto landscape while maximizing returns for its investors.
NASDAQ:COIN
by DEXWireNews
Robinhood Stock Skyrockets as EU Wing Embraces USDC ListingRobinhood's ( NASDAQ:HOOD ) Europe division has announced the listing of USD Coin ( CRYPTOCAP:USDC ) on its platform, triggering a surge of excitement among investors and traders alike. As the Robinhood ( NASDAQ:HOOD ) stock soared by 12% in pre-market trading, the stage is set for a groundbreaking expansion in the company's offerings and user engagement strategies. Robinhood's decision to embrace USDC, a stablecoin pegged to the US dollar, underscores its commitment to democratizing access to digital assets and fostering financial inclusion. With over 25 cryptocurrencies now available on its platform, Robinhood ( NASDAQ:HOOD ) is poised to capture a broader segment of the market and cater to the diverse needs of its global user base. The listing of USDC on Robinhood's European platform represents a significant milestone for the company, marking its continued expansion into new territories and product offerings. By providing users with the opportunity to earn rewards of up to 10% on their USDC holdings, Robinhood ( NASDAQ:HOOD ) is incentivizing participation and driving engagement in the burgeoning crypto ecosystem. The reward program, slated to run from March 1 to June 15, offers users the chance to earn incentives by simply holding USDC and trading any supported crypto on the platform. With a maximum payout of €1,000 ($1,094) in USDC during the promotional period, participants have a compelling reason to actively engage with Robinhood's crypto offerings. Furthermore, Robinhood's USDC Learn and Earn campaign aims to educate users about the fundamentals of cryptocurrency while rewarding them with €5 of USDC. By encouraging users to explore the "Learn about crypto" section on their crypto home tab, Robinhood is empowering individuals to enhance their crypto knowledge and make informed investment decisions. The announcement of these innovative initiatives has not only fueled a surge in the price of Robinhood ( NASDAQ:HOOD ) stock but also generated renewed optimism among investors. With the HOOD stock price surpassing $19 in pre-market trading, Robinhood ( NASDAQ:HOOD ) is poised to reach new heights and solidify its position as a leading player in the fintech space. Moreover, the recent rally in Robinhood ( NASDAQ:HOOD ) stock has helped the company recover from earlier losses, signaling resilience and strength in the face of market volatility. As investors eagerly await further developments, one thing is clear: Robinhood's embrace of USDC and its innovative reward programs are set to reshape the landscape of digital finance and drive sustained growth in the months ahead. Technical Outlook NASDAQ:HOOD is currently in a bullish trend trading above the 200-day Moving Average with a positive Relative Strength Index (RSI) of 77 indicating bullish momentum.
NASDAQ:HOODLong
by DEXWireNews
Robinhood's Resurgence: A Profitable Pivot and Promising GrowthRobinhood ( NASDAQ:HOOD ), the once-controversial trading platform, has emerged from the ashes of scrutiny to shine with a profitable fourth quarter and a bullish outlook for 2024. With a 12% surge in premarket trading, Robinhood's ( NASDAQ:HOOD ) unexpected profit and robust revenue growth forecast have caught the attention of investors and analysts alike, signaling a potential shift in the company's trajectory. Riding High on Profitability: Robinhood's ( NASDAQ:HOOD ) fourth-quarter earnings report exceeded Wall Street's expectations, as the company capitalized on higher interest income from customer loans and a resurgence in trading activity fueled by cryptocurrencies and equities. Despite its tumultuous past, Robinhood's Chief Financial Officer, Jason Warnick, expressed confidence in the company's ability to sustain profitable growth, emphasizing a focus on driving net deposits higher while keeping expenses in check. Growth Trajectory: A significant milestone for Robinhood ( NASDAQ:HOOD ) was the surge in assets under custody (AUC), which skyrocketed by 65% year-over-year to $102.6 billion in the fourth quarter. This remarkable growth was attributed to continued net deposits and increased equity valuations. Analysts from J.P. Morgan lauded Robinhood's achievement, noting that AUC breached the $100 billion mark for the first time since Q2 2021, indicating a resurgence reminiscent of the meme trading peak. Diversification Strategy: Recognizing the need to reduce reliance on transaction-based revenue, Robinhood ( NASDAQ:HOOD ) has been actively diversifying its business model. The company aims to shift towards product offerings and margin investing, thus expanding its revenue streams beyond traditional trading activities. This strategic pivot reflects Robinhood's commitment to long-term sustainability and resilience in a dynamic market environment. Analyst Optimism: Wall Street analysts have responded positively to Robinhood's ( NASDAQ:HOOD ) upbeat earnings report, with Piper Sandler highlighting "very strong net deposit trends" expected in the first quarter. The consensus among analysts is that Robinhood's profitability and growth prospects position the company on a stronger footing moving forward, paving the way for continued success in 2024 and beyond. Conclusion: Robinhood's ( NASDAQ:HOOD ) surprising profitability in the fourth quarter and optimistic revenue growth forecast for 2024 mark a significant turnaround for the company. Buoyed by robust net deposits and a strategic shift towards diversification, Robinhood ( NASDAQ:HOOD ) is poised to capitalize on emerging opportunities in the financial markets. As the company navigates its path forward, investors are keenly watching to see if Robinhood ( NASDAQ:HOOD ) can sustain its momentum and carve out a new chapter of success in the ever-evolving landscape of retail investing.
NASDAQ:HOOD
by DEXWireNews
Robinhood (NASDAQ: HOOD) Announces UK Launch Robinhod (NASDAQ: HOOD) Chief Executive Officer Vlad Tenev recently said that he does not think that the payment for order flow (PFOF) model of market-maker routing that the firm incorporates in the United States is under any type of threat. This would be despite suggestions from various consumer trading advocates as well as regulators for a complete ban on the PFOF model. In statements shared with CNBC, Tenev reportedly defended the PFOF model, noting that it is inherently “here to stay.” He was making a reference to PFOF as it currently exists in the US, where the practice has been made legal and is well-regulated. PFOF is essentially the practice of routing trades via market-makers such as Citadel Securities in exchange for a portion of the profits. The business model has helped trading companies such as Robinhood with lowering commissions all the way down to zero, making it more economical for consumers to invest in a large range of stocks. PFOF has been considered controversial due to the apparent conflict of interest it can potentially create between the broker and customers. Industry professionals claim that brokers have an incentive or motivation to direct order flow to market makers providing PFOF arrangements over the best interests of customers. At present, PFOF is banned in the United Kingdom, where Robinhood revealed its plans to launch operations (this past Thursday). Notably, the US Securities and Exchange Commission (SEC) had looked into the possibility of placing a ban on PFOF due to concerns regarding the practice, however, the regulator decided not to do so, meanwhile, the EU has placed a complete ban on PFOF. PFOF reportedly makes up for a relatively small amount of Robinhood’s total revenues, Tenev calims, and most of its earnings come from net interest income which is obtained from cash in user account balances.
NASDAQ:HOODLong
by DEXWireNews
Good-Buy STOCKS: HOODHi Traders, Investors and Speculators of Charts📈📉 After losing nearly 90% of it's high, NASDAQ:HOOD is currently trading close to all-time lows. This could make for a great buy and hold opportunity, whilst some patience may be needed to wait for ideal target zones. Higher lows are observed after bottoming out at $6, indicating that the bottom is most likely in for HOOD. In other words a spot entry here has a really low risk and high reward setup. _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck NASDAQ:HOOD
NASDAQ:HOODLong
by CryptoCheck-
9