Stock Track | Robinhood Soars 5% as Analysts Remain Bullish on Growth Outlook

Stock Track12-13

Shares of the popular online brokerage Robinhood (HOOD) surged 5.06% in intraday trading on Thursday, as Wall Street analysts remained upbeat about the company's prospects for continued growth and profitability.

The rally came after Barclays analyst Benjamin Budish reiterated a "Buy" rating on Robinhood, citing the company's strong momentum in attracting new customers and expanding its ecosystem of financial services beyond just trading.

According to a detailed report by Yahoo Finance, Robinhood has staged a remarkable turnaround in 2024, with its stock price more than doubling year-to-date. The company has benefited from a resurgence in trading activity, a booming crypto market, and the successful launch of new offerings like credit cards and premium subscription services.

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