The premarket hours are abuzz as Robinhood Markets Inc. (HOOD) sees its shares leap to $19.07. The stock is riding high on a robust increase of $1.91, marking an 11.13% uptick, with a solid trade volume of 98.1K signaling strong investor confidence. This impressive rise could very well set the stage for the day’s trading for Robinhood.
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In the latest news, March 13, 2024, Robinhood has shared its operating data for February 2024, showcasing continued growth:
- Funded Customer accounts rose to 23.6 million, a month-over-month increase of 130 thousand.
- Assets Under Custody (AUC) soared to $118.7 billion, jumping 16% from January. February’s Net Deposits hit $3.6 billion, indicating a yearly growth rate of 42% compared to January’s AUC. Looking at the year-over-year figure, Net Deposits reached $21.6 billion, a 29% growth from the previous February.
- Trading activity in February spiked across all asset classes, with Equity Notional Trading Volumes at $80.9 billion (a rise of 36%), Options Contracts Traded at 119.1 million (up 12%), and Crypto Notional Trading Volumes climbing to $6.5 billion (an increase of 10%).
- Margin Balances edged up by 6%, ending the month at $3.8 billion.
- Cash Sweep Balances grew to $18.1 billion by the month’s end, marking an 8% increase from January.
- Lastly, Securities Lending Revenue for February amounted to $13 million, up by 8% from the prior month.
