4 Reasons BTIG Is Buying Robinhood Stock Right Now

Online trading platform Robinhood Markets (HOOD) is seeing a surge in its user base. In its May metrics, the company reported 27.7 million funded customers, which reflected an increase of approximately 1.76 million year-over-year (YOY). At the end of the month, Robinhood had $377 billion in total platform assets, up 48% YOY.

What has been notable is the company's 75% YOY growth in equity notional trading volumes and a 29% growth in options contracts traded. However, crypto notional trading volumes grew only modestly by 4% YOY. The company also announced a 10% reduction in its workforce to flatten management layers.

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Robinhood's growth has turned analysts in its favor. Recently, BTIG analysts initiated coverage of the stock with a bullish "Buy" rating. The firm also forecasted the platfo

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/4-reasons-btig-buying-robinhood-134502636.html)