Robinhood notches first record high since 2021
Robinhood jumped more than 5% to close at a record high for the first time since August 2021, shortly after its debut as a publicly traded company.
(Sherwood Media is an editorially independent subsidiary of Robinhood Markets Inc.)
The company marked the closing of its acquisition of crypto exchange Bitstamp by releasing some additional financial details on revenues and costs at the crypto exchange.
Analysts at Barclays said they expect the deal shouldn’t weaken the “adjusted EBITDA” number that Wall Street watches closely.
Barclays analysts added that the acquisition should be “accretive” — that is, contributing to the bottom line within 12 months — either through additional revenues or by providing an opportunity for cost cuts.
The company marked the closing of its acquisition of crypto exchange Bitstamp by releasing some additional financial details on revenues and costs at the crypto exchange.
Analysts at Barclays said they expect the deal shouldn’t weaken the “adjusted EBITDA” number that Wall Street watches closely.
Barclays analysts added that the acquisition should be “accretive” — that is, contributing to the bottom line within 12 months — either through additional revenues or by providing an opportunity for cost cuts.
