Shares of financial services company Robinhood (NASDAQ:HOOD)
fell 2.3% in the afternoon session after a weak U.S. jobs report sparked broader economic concerns, affecting brokerage firms and banks. The disappointing labor market data raised worries about the health of the economy, which could lead to reduced trading activity on platforms like Robinhood. Furthermore, the report led to speculation about potential interest rate cuts, a development that can put pressure on financial companies.
Expensive stocks typically earn their valuations through superior growth rates that other companies simply can’t match.
The flip side though is that these lofty expectations make them particularly susceptible to drawdowns when market sentiment shifts.
Prominent investor Kevin O’Leary weighed his cryptocurrency convictions on Tuesday, revealing that Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) comprise nearly 90% of his digital asset holdings while
Robinhood has been on fire lately. In the past six months alone, the company’s stock price has rocketed 115%, reaching $101.00 per share. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
Robin Hood (HOOD) stock is identified as a high-growth momentum pick, meeting Mark Minervini's Trend Template with strong technicals and surging earnings.
Influential investor Kevin O’Leary shared his observations on Gen Zs investment habits on Thursday, highlighting their interest in cryptocurrencies alongside traditional stocks.
Shares of financial services company Robinhood (NASDAQ:HOOD)
fell 3.5% in the afternoon session after the company was passed over for inclusion in the prestigious S&P 500 index.
