Robinhood Stock Surges as Crypto Ventures Pay Off

Author: Elena R

Elena R

Author

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

• 

Sep 12, 2024 10:41

Stocks in the Spotlight! Robinhood stock surged by 4.7% after a bullish Bernstein report projected a $23 billion market cap by 2024. The company has seen a 66% year-to-date stock rise, largely fueled by crypto ventures. In Q2 2024, its crypto-based revenue spiked by 161%, reaching $81 million. The company’s recent plans, including acquiring Bitstamp for $200 million, are set to expand its global presence. Younger investors continue to drive Robinhood’s growth, with 60% of assets held by users under 43.