Robinhood (NASDAQ:HOOD) has been on a tear recently. Shares in the company have been pushing its 52-week higher as its valuation increases. As of today, Robinhood shares have surpassed $150 – far higher than at the start of the year, when Robinhood traded in the $30s.
Robinhood has emerged as a serious challenger to more established online brokerages. Quick to iterate and add new services, the traditional plus crypto offerings provided by Robinhood have lapped more august participants in the sector who have been slow to adapt to the digital investment ecosystem.
In September, Robinhood reported equity trading of around $206 billion. Crypto trading on Robinhood topped $8 billion, with subsidiary Bitstamp booking $12 billion in volume.
Robinhood reports having almost 27 million customers with a total of $304 billion in platform assets. In their latest earnings report for Q2, Robinhood announced that platform assets increased by 26% from Q1 and by 99% quarter-over-quarter. In the last twelve months, Robinhood reported $1.8 billion in earnings.
Founded in 2013, Robinhood now holds a market cap of almost $130 billion. Compare this to rival Schwab, founded in 1971, which reports a market cap of $170 billion.
Not everything is rosy for Robinhood; Rothschild has a sell rating on the company, predicting a share price of just $68.
Robinhood’s next earnings report is scheduled for release on November 5th.
