Robinhood (NASDAQ: HOOD) has become a popular investing platform for Gen-Z and millennial investors. Despite challenges since its IPO in July 2021, the past year has seen a significant rebound. In the past year, Robinhood’s stock has soared nearly 246%, turning a $1,000 investment into close to $3,460 today.

Much of Robinhood’s recent stock performance can be attributed to its financial success. In Q3, the company’s revenue surged 100% year over year to $1.27 billion, while its net income rose 271% to $556 million. This demonstrates a shift from being a speculative growth company to a profitable, sustainable one.

Robinhood has expanded beyond stock buying, now involved in prediction markets and running a cryptocurrency exchange called Bitstamp. While the stock platform remains its core, diversifying its business is a positive move. Before investing in Robinhood Markets, consider other top stock picks from the Motley Fool Stock Advisor team, which has outperformed the S&P 500 with an average return of 991%. Don’t miss the latest top 10 list for potential high returns.

Read more at Yahoo Finance: If You’d Invested $1,000 in Robinhood 1 Year Ago, Here’s How Much You’d Have Today