Robinhood Soars to All-Time High as Users Flood Platform—Wall Street Rolls Eyes

Robinhood just smashed its previous record close—turns out free trades and meme stocks still move needles. Who knew?

User growth rockets as retail investors pile back in. Activity spikes suggest the 'dumb money' isn't done gambling yet.

Meanwhile, traditional brokers clutch their commission fees like security blankets. Stay salty, Wall Street.

Robinhood’s net deposits in this quarter reached a massive high of $18 billion, the highest amount ever. Moreover, it currently supports 25.8 million funded accounts, among which 3.2 million are subscribers of Robinhood Gold.

The Gold tier unlocks a special feature that its traders can use margin, get higher interest on their cash, and use advanced tools, which has allowed the company to keep and make money from knowledgeable traders.

Additionally, during April, Robinhood users executed more than 4.5 million futures trades, showing a MOVE towards the use of increased trading volume.

While crypto revenue slipped a bit from the last quarter, it has grown twice as much as it was a year ago. The platform also completed buying Bitstamp, one of the world’s top crypto exchanges, strengthening its involvement in digital assets and allowing it to serve customers in more places.

Additionally, the board has decided to do another $500 million share buyback on top of the existing $1 billion share buyback program. The company is still investing in better products, management options, and useful banking tools that encourage people to stay with the app for a long time.

As trading continues to be active in markets like equities, options, and crypto, Robinhood is now being noticed again by retail as well as institutional investors.

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