Robinhood's stock price took a hit, dipping 8% to $45.92, despite CEO Vlad Tenev's optimistic outlook on crypto trading. Tenev remains bullish, citing strong fourth-quarter 2024 results, including a record $1 billion in revenue and $50 billion in customer deposits for the year.
The decline in Robinhood's stock price is largely attributed to the broader market downturn, with Bitcoin's price slipping below $87,000. However, Tenev doesn't seem too concerned, noting that customers have a long-term perspective and may even view market declines as opportunities to buy.
Some key highlights from Robinhood's performance include:
- Record Revenue: $1 billion in revenue in Q4 2024
- Customer Deposits: $50 billion in customer deposits for the year
- Trading Activity: Active traders continue to use Robinhood's tools, generating $50 million in annual revenue from the new Robinhood Legend platform
Overall, while Robinhood's stock price may be experiencing a temporary setback, CEO Tenev's bullish outlook on crypto trading suggests that the company remains committed to its long-term strategy.