Robinhood's assets under custody grew to $118.7 billion, shares rose 9%.

From Nasdaq:

Robinhood Markets’ shares rose 9% as assets under custody grew to $118.7 billion in February, a 16% increase month-over-month. Analysts at Bernstein rate Robinhood as “outperform,” predicting a nine-fold growth in cryptocurrency revenue by 2025. Robinhood’s advantage lies in competitive fees compared to other crypto exchanges like Coinbase.

The brokerage aims for ‘profitable growth’ by 2024 after reporting a surprise quarterly profit in mid-February. The company’s success is tied to retail traders as bitcoin hits record highs and the S&P 500 climbs. Despite declining active users, Robinhood has increased revenue per customer and its shares reached a fresh 2-year high.



Read more at Nasdaq: Robinhood jumps after robust growth in assets under custody in February