Robinhood Set Records on Revenue, Net Deposits, and Gold Subscribers. The Stock Is Still 44% Below Its High.
The brokerage just posted one of its best quarters ever. The market still won't pay what it used to.
Overview
Robinhood (NASDAQ: HOOD) reported second-quarter results on Wednesday that set records nearly everywhere you look. Record revenue. Record net deposits. A record number of Gold subscribers, and record trading volumes in both equities and options.
The stock slipped about 3% during Wednesday's regular session, closing at $89.84 before the results arrived, then fell another 3.6% on Thursday, to $86.60. That leaves shares roughly 44% beneath the 52-week high of $153.86 they set back in October of last year.
Details
So why won't the market pay what it used to for a business performing like this? The latest report holds most of the explanation. Here's a closer look at three things it tells us.
Source
Originally published at www.fool.com.