Robinhood Markets climbed to an intraday record of $85.74 on Wednesday, extending a rally that has lifted the online broker’s stock more than tenfold since the market trough of December 2022. The gains followed the company’s annual shareholder meeting, where management detailed rapid growth across new product lines and reiterated confidence in expanding its user base. Chief Executive Officer Vlad Tenev said 1.5 billion prediction contracts have changed hands on the platform since their introduction in November 2024, underscoring demand for the firm’s event-based trading. Assets in Robinhood’s retirement accounts have reached $18 billion, while its managed-portfolio offering, Robinhood Strategies, now counts nearly 100,000 funded accounts with about $350 million under management and an average balance above $3,500. The broker expects roughly 300,000 customers to hold its Gold credit card by mid-year. Tenev added that artificial-intelligence tools already resolve 65 percent of customer-support requests. Robinhood’s rally coincided with sharp moves in other online brokerages. Shares of China-focused Up Fintech Holding, known as Tiger Brokers, jumped roughly 22 percent to around $10, and Futu Holdings advanced about 5 percent, amid heavier-than-usual trading volume.
Robinhood $HOOD has now had more than 1.5 Billion event contracts traded since it launched in November 2024 https://t.co/YDkrOGlazn
Robinhood $HOOD just said it is on track to have ~300,000 Gold Credit Card holders by the middle of this year https://t.co/sSLN8srfsM
Robinhood $HOOD just updated the numbers for their managed portfolio product Robinhood Strategies New Numbers: - $350M AUM - Almost 100K funded accounts - Current account size $3,500+ https://t.co/jb4m7SsKyp