Robinhood had a big 2024. Here's what's driving its turnaround.
2024 was a big year for Robinhood (HOOD). The stock is up more than 220% over the past year as the company has expanded both its offerings and customer base. The company has yet to reach the all-time highs it saw during the meme-trading frenzy, but it's huge growth in 2024 was enough to earn it the title of Yahoo Finance's Comeback of the year. Looking back, Robinhood CEO Vlad Tenev describes 2022 as a "challenging" year for the company, but now the business is "much stronger, across pretty much all dimensions." Looking ahead, Tenev sees several tailwinds for Robinhood as the world grows wealthier, the internet makes it easier for people to transact, and AI and crypto drawing investors into the market. Tenev tells Yahoo Finance Executive Editor Brian Sozzi that he is "excited" about President-elect Donald Trump picking crypto-friendly Paul Atkins to lead the Securities and Exchange Commission (SEC). "We're looking forward to the end of the regulation-by-enforcement approach that has been bad for the industry, frankly, and bad for the public in the US," he says. Regarding comments Tenev made about potentially entering the sports betting world, he clarifies that he is referring to expanding an election-related product the company offered. "We're going to broaden that. We're going to have a more expansive, regulated events offering and these are CFTC derivatives [Commodity Futures Trading Commission], so federally regulated. There's all kinds of contracts and events that are permissible that we would want to allow people to trade." Watch the video above to hear why Robinhood is so focused on desktop traders. For more expert insight and the latest market action, click here. This post was written by Stephanie Mikulich.
