00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Robinhood rose 2.20% to $125.95 on Tuesday as a sharp rebound in the cryptocurrency market
00:11lifted investor sentiment, according to Benzinga. Bitcoin climbed more than 5% to reclaim $91,000,
00:18and the move helped turn Robinhood's stock higher after Monday's pressure.
00:22The rising crypto market boosts Robinhood's revenue by driving retail trading activity
00:27and increasing fee generating transaction volumes. Higher crypto valuations raise the value of assets
00:33under custody and expand customer collateral for margin trading, which increases Robinhood's net
00:38interest income. Stronger crypto activity and upbeat analyst views on Robinhood's new prediction
00:45market venture helped drive the stock higher on Tuesday. The stock trades about 3.5% below its
00:5050-day moving average and has a 52-week range of $29.66 to $153.86. For all things money, visit
00:59Benzinga.com.
Comments