Robinhood: Crypto Trading Volume For June Makes Me Pause (Rating Downgrade)
2025-07-01 18:27:46
Main Idea
The author initiated coverage on Robinhood Markets, Inc. with a buy recommendation and later doubled down on that call, discussing their background and focus on momentum investing.
Key Points
1. The author started coverage on Robinhood Markets, Inc. (NASDAQ:HOOD) in late March with a buy recommendation at $48 per share.
2. The author doubled down on the buy call in May.
3. The author is a retired Wall Street portfolio manager specializing in TMT (Technology, Media, Telecom) and focuses on momentum investing.
4. The author discloses no current stock, option, or derivative positions in Robinhood within the next 72 hours.
5. The article is written independently, and the author has no business relationship with any mentioned company.
Description
Summary Robinhood Markets, Inc.'s aggressive crypto product expansion, including tokenized stocks and perpetuals, is going to drive its next leg of growth, specifically in the EU. HOOD stock is now up over 107% since I initiated with a Buy back in March based on my tracking of crypto trading volume. I'm downgrading to a Hold now because of what I've found from tracking crypto trading: lower crypto trading volume for April, May, and mostly June. I think the stock is higher risk in the near-term, ...
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