HOOD Stock Summary and Trading Ideas (Robinhood Markets - Class A | NASDAQ:HOOD)

Robinhood Markets Inc is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments, and IPO Access. It earns transaction-based revenues from routing user orders for options, equities, and cryptocurrencies to market makers when a routed order is executed.

Robinhood Markets - Class A trades on the NASDAQ stock market under the symbol HOOD.

As of June 28, 2024, HOOD stock price climbed to $22.71 with 10,202,156 million shares trading.

HOOD has a beta of 1.70, meaning it tends to be more sensitive to market movements. HOOD has a correlation of 0.12 to the broad based SPY ETF.

HOOD has a market cap of $19.96 billion. This is considered a Large Cap stock.

Last quarter Robinhood Markets - Class A reported $618 million in Revenue and $.18 earnings per share. This beat revenue expectation by $69 million and exceeded earnings estimates by $.13.

The top ETF exchange traded funds that HOOD belongs to (by Net Assets): VTI, VB, ARKK, VBK, VXF.

HOOD has outperformed the market in the last year with a price return of +123.1% while the SPY ETF gained +26.3%. HOOD has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +12.8% and +1.3%, respectively, while the SPY returned +4.4% and +0.6%, respectively.

HOOD support price is $21.75 and resistance is $23.43 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HOOD stock will trade within this expected range on the day.