Why should Robinhood (HOOD) be avoided this month? – Own Snap
Robinhood stock is up 2.39% today and is trading at $ 41.91. The cost of HOOD inventory has not been stable for a month. On September 20, the stock fell to $ 40.12. Three days later, it rose to $ 47.16. At the start of this month, the stock price fell again to $ 40.73. Robinhood offers brokerage services for people who want to buy and sell digital currencies. Robinhood started out as an online brokerage firm serving conventional assets, including stock and options contracts, and is enjoying incredible success in this area. But Robinhood has faced a number of issues, like its game trading app, which causes risky behavior among millions of young users. This year the company has made a huge turnaround by focusing on the cryptocurrency markets. While cryptocurrencies only make up 22% of Robinhood’s client assets, they currently account for over 52% of total transaction revenue. This shows that Robinhood’s young investor base trades cryptocurrencies more often than stocks and pays higher fees for it. Robinhood will likely be able to build a long term business on what is ultimately a vehicle for speculation.
Finance and business journalist
After graduating from high school. Lora decided to travel and blog part time. Today she loves what she loves and works remotely as a financial and business reporter.