Robinhood notches new all-time closing high
The brokerage app posted strong Q2 numbers and has been on a tear.
Options, crypto, and stock brokerage Robinhood Markets etched a new record closing price of $114.63 Friday, as bullish earnings season vibes continued to push prices for a range of tradable assets higher.
(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. I own Robinhood stock as part of my compensation.)
The stock is up more than 7% since the company posted strong Q2 numbers on July 30. Shares were boosted, in part, by the surge in options trading that’s accompanied a flurry of retail trading over the past few months.
This isn’t a Robinhood-only phenomenon, however.
A story published Friday on the salmon-tinted website of the Financial Times noted that the share prices of Robinhood competitors Interactive Brokers and Charles Schwab have also touched new highs in recent days, as net inflows to stocks and ETFs by retail investors through the end of July were even running ahead of the record pace of 2021, when the GameStop saga triggered a resurgence of individual trading activity.
