Explore the latest developments concerning Robinhood Markets (HOOD).
Robinhood Markets (HOOD) Moves 14.0% Higher: Will This Strength Last?
Robinhood Markets, Inc. (HOOD) shares ended the last trading session 14% higher at $82.82. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 37% loss over the past four weeks.
After four straight sessions of declines, the stock surged on Friday as cryptocurrencies bounced and broader markets swung back into “risk-on” mode. Because Robinhood’s business is tightly linked to retail trading and crypto activity, investors often bid up the shares when volatility returns, anticipating higher user engagement and increased transaction-driven revenue.
This company is expected to post quarterly earnings of $0.62 per share in its upcoming report, which represents a year-over-year change of +14.8%. Revenues are expected to be $1.32 billion, up 30.5% from the year-ago quarter.
Why Is Robinhood's Stock Crashing?
The stock hasn't been trading around these levels since June of last year.
Robinhood Markets (HOOD 1.11%) reports its latest earnings numbers tomorrow, and the stock could use a boost. Entering trading on Monday, shares of Robinhood were down 22% since the start of the year. Despite posting some strong growth in recent quarters, the stock has been coming under some significant pressure of late.
What is behind the stock's recent downturn, and could there be more trouble ahead for Robinhood, or could this be an ideal time to load up on the growth stock?
Robinhood's trading platform makes it easy for people to buy and sell stocks, and also crypto, which has been a huge growth catalyst for its business. When the company last reported earnings in November, it experienced 129% growth in transaction-based revenues, with cryptocurrencies being a huge part of that. Cryptocurrency-related revenue rose by a staggering 300%.
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