$Robinhood Markets(HOOD)$ 【From retail brokerage to crypto middle platform, is Robinhood going to be reborn?】
Although Robinhood failed to be selected for the S&P 500, its stock price remains strong. Mizuho recently raised its target price to $80, and director Christopher Payne just increased his holdings by more than 20,000 shares at around $74, a rare simultaneous increase in internal and external positions.
The key change comes from the crypto business: crypto trading revenue reached $252 million in the first quarter, doubling year-on-year, and has already supported "half of the sky" of trading revenue. And their $200 million acquisition of Bitstamp has won compliance and global market access, and the crypto landscape is moving towards a complete closed loop of "trading + custody + payment".
In the past, Robinhood told stories based on user growth, but now it has begun to talk about "per capita contribution" and "asset precipitation" - this is the sign of the maturity of the brokerage platform. After high-frequency tools such as credit cards and futures are fully launched, Robinhood's imagination space may be completely different.
Follow the account to track the new trend of crypto and US stock linkage in the first place.
Not investment advice.
