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Robinhood Markets Inc. skilled a big surge in fairness buying and selling volumes throughout February, with a exceptional 36% enhance in comparison with the earlier month. This surge propelled the corporate’s stock to soar throughout Wednesday’s after-hours buying and selling session.
In February, the online-trading platform witnessed a staggering $80.9 billion in buying and selling volumes, marking a considerable uptick from January’s figures. Choices contracts buying and selling volumes additionally noticed a notable uptick, rising by 12% to $119.1 million, whereas cryptocurrency buying and selling volumes elevated by 10% to $6.5 billion.
The full belongings beneath custody for the month reached $118.7 billion, showcasing a strong 16% surge in comparison with Robinhood’s January ranges. Furthermore, the corporate recorded web deposits of $3.6 billion.
Following this spectacular efficiency, Robinhood’s shares surged by 10% in after-hours buying and selling on Wednesday, contributing to a exceptional 91% enhance over the previous 12 months.
Robinhood has been capitalizing on the resurgence of curiosity in retail buying and selling, as evidenced by its current quarterly earnings report, which highlighted a rise in month-to-month lively customers and transaction-based income.
Chief Monetary Officer Jason Warnick expressed optimism about Robinhood’s market potential throughout a JMP Securities convention earlier this month. He emphasised the numerous alternatives offered by the rising power of retail merchants, elevated earnings energy, and wealth switch over the subsequent decade, affirming Robinhood’s robust positioning to cater to this evolving buyer base.
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