Explore the latest developments concerning Could Buying Robinhood.
Could Buying Robinhood Stock Today Set You Up for Life?
Robinhood is adding customers and platform assets at a staggering pace.
Recent earnings results showed robust trading activity across its different products.
The company is expanding its offerings, including its rapidly growing prediction markets product.
Everyone hopes to uncover the next Nvidia or Tesla, a stock that skyrockets and turns early investors into millionaires. It's tempting to see these stellar returns and imagine the wealth you could have built if you'd bought those stocks early.
Robinhood (NASDAQ: HOOD) may be one of those stocks for some investors. About two years ago, the stock traded around $8 per share, and today it's trading at $115 per share. In other words, a $10,000 investment would be worth $143,750 today.
Robinhood shares drop 12% this week amid losses in bitcoin, AI stocks
Robinhood shares suffered brutal weekly loss as the once-red-hot trades in bitcoin and AI stocks that powered its growth lost momentum.
The popular brokerage platform saw the stock decline 12.4% this week. The stock tumbled 10.1% on Thursday and rebounded 1% Friday. November alone has erased 27% of its market value.
The latest slide reflects a sharp reversal in the risk-hungry investment activity Robinhood relies on. The company's core business is closely tied to retail investors pouring into speculative corners of the market, particularly cryptocurrency and buzzy artificial intelligence stocks.
Those trades helped fuel a resurgence in Robinhood revenue and user engagement earlier this year as bitcoin hit fresh highs and anything tied to artificial intelligence soared. But the recent rout in crypto and high-growth tech stock leaders is exposing Robinhood's sensitivity to sentiment swings.
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Robinhood: Looking Under The Hood For Growth; Buy Initiation (NASDAQ:HOOD)
Robinhood (HOOD) has a special spot in my life, as I first started trading in 2015 via Robinhood. If I recall correctly, at the time, they were the only ones to offer commission-free trading and begin
Analyst’s Disclosure:I/we have a beneficial long position in the shares of HOOD, AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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