Robinhood's New Business Lines are Driving Better Economics
Dow Jones56 minutes ago
1306 ET - Robinhood Markets' expansion of its product capabilities is paying off in the company's economics, Morgan Stanley analysts say, upgrading the stock to overweight. They say Robinhood is creating more ways to grow revenue, rather than just relying on stronger retail trading. Robinhood now has 13 business lines generating more than $100 million a year, including retirement, banking, credit cards and prediction markets. The broader array of offerings give customers more reasons to consolidate their assets onto Robinhood, the analysts say. Shares are up 33% over the past six months.
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