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Robinhood Markets, Inc. - HOOD STOCK NEWS

Welcome to our dedicated page for Robinhood Markets news (Ticker: HOOD), a resource for investors and traders seeking the latest updates and insights on Robinhood Markets stock.

Robinhood Markets, Inc. (NASDAQ: HOOD) is a pioneering American financial services company headquartered in Menlo Park, California. Established with the mission to democratize finance for all, Robinhood offers a modern, app-based platform for commission-free trading of stocks, exchange-traded funds (ETFs), and cryptocurrencies. Launched in March 2015, the Robinhood app has garnered widespread popularity for its user-friendly interface and innovative features.

The core business of Robinhood revolves around providing seamless access to financial markets. The company has designed its own suite of products and services, which are delivered through a vertically integrated, cloud-based platform supported by proprietary technology. Key offerings include cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access.

Robinhood's revenue model is primarily transaction-based, earning from routing user orders for options, equities, and cryptocurrencies to market makers. This strategic approach has enabled Robinhood to maintain its commitment to commission-free trades while generating substantial income.

Recent achievements highlight Robinhood's continued growth and innovation. As of early 2024, Robinhood announced the release of its fourth quarter and full-year 2023 financial results, with a dedicated earnings call scheduled. Shareholders are given an opportunity to submit and upvote questions for management ahead of the earnings call via the Say Technologies platform, demonstrating Robinhood's emphasis on transparency and shareholder engagement.

In significant leadership news, Co-Founder and Chief Creative Officer Baiju Bhatt stepped down from his executive role to pursue other entrepreneurial ventures but remains on the Board of Directors. Additionally, Robinhood's international expansion efforts were bolstered by the acquisition of Bitstamp, a reputable global cryptocurrency exchange, expected to close in the first half of 2025. This strategic move aims to accelerate Robinhood's global footprint and introduce institutional business offerings.

Robinhood is also enhancing its services for European customers, introducing features like crypto staking, localized apps, and Learn & Earn modules to foster deeper engagement and education. New customers in Europe are incentivized with a 10% bonus on net buys within the first 30 days of joining the platform.

Overall, Robinhood Markets, Inc. stands out as a dynamic and forward-thinking company committed to making financial markets accessible to everyone, continually evolving to meet the needs of its diverse user base.

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Sherwood Media, a subsidiary of Robinhood Markets, is expanding its product offerings to include a news platform, print magazine, events, and audio. They have hired James Denis as head of sales to oversee global partnerships and strategy.
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Robinhood reported its selected monthly operating data for April 2023. Net Cumulative Funded Accounts increased by approximately 30,000 to reach 23.1 million. Monthly Active Users decreased by approximately 300,000 to 11.5 million. Assets Under Custody were $77.4 billion, down 1% from March. Net Deposits were $1.4 billion in April, with a 22% annualized growth rate. Trading Volumes were lower compared to March in all categories.
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Robinhood Markets (NASDAQ: HOOD) announced its upcoming release of first quarter 2023 financial results scheduled for May 10, 2023, after market close. An earnings conference call will follow at 2:00 PM PT/5:00 PM ET, with a live webcast available at investors.robinhood.com. Shareholders can engage by submitting questions via Say Technologies' platform starting May 3, 2023, until May 9, 2023. The Q&A session will allow management to address selected queries regarding business and financial performance during the earnings call.

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Capitalize has partnered with Robinhood to help customers locate and consolidate old 401(k)s, addressing the $1.4 trillion in unclaimed assets. This collaboration will simplify the rollover process into Robinhood's individual retirement accounts (IRAs).

Since launching Robinhood Retirement, nearly 500,000 customers have utilized the platform, which offers a unique 1% annual match. To promote this service, Robinhood is providing an extra 1% bonus on transfers from external accounts until April 18. The partnership aims to tackle the challenge of tracking retirement savings, as millions struggle to roll over funds from previous jobs.

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Robinhood Markets (HOOD) reported its operating metrics for February 2023, revealing a net cumulative funded accounts (NCFA) of 23.1 million, a slight increase of 50,000 from January. Monthly active users (MAU) remained stable at 12.0 million, yet this reflects a 28% decline year-over-year. Assets under custody (AUC) were stable at $74.7 billion, while net deposits rose to $1.5 billion, marking a 25% annualized growth. Trading volumes increased for equities ($57.3 billion, up 25%) and options (89.4 million contracts, up 8%), but dropped for cryptocurrencies ($3.5 billion, down 7%). Margin balances increased to $3.3 billion, and cash sweep balances grew to $8.0 billion.

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Robinhood Markets (NASDAQ: HOOD) will participate in the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023. CEO and Co-Founder Vlad Tenev is set to present at 2:35 PM ET / 11:35 AM PT. A live audio webcast will be available on the investor relations website, with a replay accessible for at least 90 days post-event. Robinhood aims to democratize finance by allowing investments with no account minimums, crypto trading, and providing educational content.

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Robinhood Markets (NASDAQ: HOOD) announced its participation in the JMP Securities Technology Conference on March 7, 2023. CFO Jason Warnick will present at 4:00 PM ET (1:00 PM PT). Interested individuals can access a live audio webcast via the investor relations section on their website at investors.robinhood.com. A recorded version will be available for replay for at least 90 days following the event. Robinhood aims to democratize finance, offering investment opportunities with no minimums, cryptocurrency trading, and accessible educational content.

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FAQ

What is the current stock price of Robinhood Markets (HOOD)?

The current stock price of Robinhood Markets (HOOD) is $23.97 as of November 1, 2024.

What is the market cap of Robinhood Markets (HOOD)?

The market cap of Robinhood Markets (HOOD) is approximately 21.0B.

What is Robinhood Markets, Inc.?

Robinhood Markets, Inc. (NASDAQ: HOOD) is an American financial services company offering commission-free trading of stocks, ETFs, and cryptocurrencies through its app.

How does Robinhood generate revenue?

Robinhood generates transaction-based revenues by routing user orders for options, equities, and cryptocurrencies to market makers.

What new features has Robinhood introduced recently?

Robinhood has introduced crypto staking, localized apps, and Learn & Earn modules for its European customers, along with a 10% bonus on net buys for new users.

Who are the founders of Robinhood?

Robinhood was co-founded by Vladimir Tenev and Baiju Bhatt in 2013.

What is the significance of the Bitstamp acquisition?

The acquisition of Bitstamp will accelerate Robinhood's global expansion and introduce institutional business offerings to its platform.

When will Robinhood release its Q4 and full-year 2023 financial results?

Robinhood will release its Q4 and full-year 2023 financial results on February 13, 2024.

How can shareholders submit questions for Robinhood's earnings call?

Shareholders can submit and upvote questions via the Say Technologies platform starting February 6, 2024.

What new developments are there in Robinhood's leadership?

Co-Founder and Chief Creative Officer Baiju Bhatt has stepped down from his executive role but remains on the Board of Directors.

What is the mission of Robinhood Markets, Inc.?

Robinhood's mission is to democratize finance for all, making financial markets accessible to everyone.

Where can investors find more information about Robinhood's financials?

Investors can find more information on Robinhood's financials on their Investor Relations website at investors.robinhood.com.

Robinhood Markets, Inc.

Nasdaq:HOOD

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HOOD Stock Data

20.99B
762.91M
0.79%
79.72%
2.57%
Capital Markets
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United States of America
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