Robinhood Markets Adds 130K Funded Customers

March 14, 2024

DENVER, Colo., Mar 14, 2024 (247marketnews.com)- Robinhood Markets, Inc. (NASDAQ:HOOD) released its monthly operating data report for February 2024

Robinhood added 130,000 funded customers in February and closed the month with 23.6 million.

Its Assets Under Custody grew by 16% in February, to $118.7 billion, with $3.6 billion in February net deposits, and an annualized growth rate of 42% relative to January 2024 AUC. Over the last twelve months, Net Deposits were $21.6 billion, translating to an annual growth rate of 29% relative to February 2023 AUC.

Trading Volumes in February were higher for all asset classes, compared to January 2024, as Equity Notional Trading Volumes were $80.9 billion, a 36% increase. Crypto Notional Trading Volumes grew 10%, to $6.5 billion and Options Contracts Traded hit $119.1 million, up 12%. Crypto Notional Trading Volumes were $6.5 billion (up 10%).

End of February Margin Balances were $3.8 billion, up 6% from the end of January 2024.

End of February Total Cash Sweep Balances were $18.1 billion, $1.3 billion higher, an 8% growth rate from the end of January 2024.

HOOD is trading at $19.29, up $2.13 (+12.41%), on 207K shares.

Robinhood’s 52-week range is $7.91 to $17.62 and this morning’s premarket high is $19.45

HOOD last traded at these levels in late 2021, when it quickly dropped from the mid-thirties to below $20. If the volume strengthens, it may try to retrace that move.

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