Aug 13, 08:09 PM

Robinhood Users, Assets Surge in July but Stock Slides 4%

Robinhood Markets Inc. reported continued double-digit growth in key operating metrics for July, lifting assets under custody to $298 billion, a 7% increase from June and 106% higher than a year earlier. Funded customer accounts rose by 160,000 to 26.7 million, extending the platform’s year-on-year gain to about 2.5 million users. Customer inflows remained robust, with net deposits of $6.4 billion in July, a pace that translates to a 28% annualized growth rate. Over the past 12 months, cumulative net deposits reached $60.1 billion. Margin balances climbed to $11.4 billion, roughly 20% above the prior month, underscoring increased risk appetite among the broker’s clients. Despite the solid operating update, Robinhood shares fell about 4% in afternoon New York trading on Wednesday, trimming some of the stock’s gains earlier this year. Investors are weighing the platform’s rapid expansion against market-wide concerns that elevated margin use could amplify volatility if sentiment shifts.

#Robinhood #New York

Written with ChatGPT .

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