Why Robinhood Stock Skyrocketed Last Month

Robinhood Markets (NASDAQ: HOOD) barreled into August just after publishing an estimates-crushing quarterly earnings report, and its stock only got more popular from there. Thanks in no small part to a rally in cryptocurrencies -- a major focus of the brokerage and financial services company -- its shares ended the month 21% higher. The stage was set at the end of July for a pronounced Robinhood rally. Its second-quarter results featured a strong 32% year-over-year gain in revenue (to over $1.3 billion), while headline net profit surged 45% higher to $561 million. Both figures were well higher than the average analyst estimates. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool