Robinhood's Trading Activity Soars Amid Crypto and Stock Market Surge

The online brokerage platform reports significant growth in trading volumes and assets under custody, driven by a bullish crypto market and investor enthusiasm.

Robinhood's crypto trading volumes increased by 10% in February, reaching $6.5 billion, with a notable rise in assets under custody to $118.7 billion.
The company's stock price hit its highest level since 2021, reflecting a 12% surge in premarket trading following the announcement of February's trading metrics.
Bernstein initiates coverage of Robinhood with an 'Outperform' rating and a $30 price target, citing a 'monster' crypto cycle expected to triple the total market cap by 2025.
Robinhood's expansion into the European Union and integration with MetaMask are part of its strategy to bridge traditional finance and crypto, aiming to lead in the sector.
Despite recent growth, Robinhood faces challenges with profitability and a volatile outlook, especially in the crypto sector, as it has not turned a profit since going public.