2024-06-14 02:50:16 ET
Summary
- Robinhood's revenue and profitability are soaring due to increased trading activity and net deposits.
- The company has benefited in particular by a ~3x y/y jump in crypto trading, where it earns a rich spread. These trends continued into the start of Q2 in May.
- Robinhood also just launched in the UK at the end of Q1, fueling a brand-new market opportunity for the company.
With euphoria powering the stock market to new all-time highs, one big beneficiary of heightened trading activity is Robinhood ( HOOD ). The tech-oriented brokerage has continued to pick up more net deposits while also enjoying a ballooning of asset values, powering the company's revenue and path to profitability....
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For further details see:
Robinhood: Keep Riding This Rally