Robinhood Stock Is Bouncing Back Tuesday: Why Bitcoin's Surge Matters

Benzinga

Robinhood rose 2.20% as a strong crypto rebound boosted retail trading activity and lifted revenue drivers tied to assets under custody and margin collateral. Bitcoin’s move back above $91,000 improved sentiment after Monday’s pressure, while optimism around Robinhood’s new prediction-market venture added support. Shares now sit about 3.5% below the 50-day moving average.

Transcript

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.

Category

Transcript

Be the first to comment

Recommended