Robinhood's Crypto Revenues Fell Short of Targets

Robinhood's Crypto Revenues Disappoint

Robinhood faced pressure on its stock following revenues in the crypto segment falling short of expectations. This situation overshadowed the larger gains the company achieved.

JPMorgan noted that the primary reason for Robinhood's positive surprise was tax advantages rather than operational strength. The bank also raised its price target from $122 to $130 considering the increase in volumes in the crypto and prediction markets.