Bank of America Securities supports Robinhood: The new social platform will change the "game rules," reiterating a "buy" rating
Bank of America Securities reiterated its "Buy" rating on Robinhood on Thursday. Analyst Craig Siegenthaler highly praised some of the products recently launched by this fintech company. He particularly commended Robinhood's new social media platform, which will allow users to post trading information, discuss trading strategies, track trader performance, and follow hedge funds, politicians, and insiders, calling the network a "game changer." The analyst stated, "We believe this is a powerful customer engagement mechanism that can support future net new user numbers and account growth by attracting customers from external social media platforms like Reddit and X." Robinhood Social will be launched to some customers in the U.S. early next year. As of Thursday's market close, Robinhood shares rose 0.25% to $117.75. The stock has gained over 200% year-to-date
According to Zhitong Finance APP, Bank of America Securities reiterated its "Buy" rating on Robinhood (HOOD.US) on Thursday. Analyst Craig Siegenthaler highly praised some of the products recently launched by this fintech company.
He particularly commended Robinhood's new social media platform, which will allow users to post trading information, discuss trading strategies, track the performance of traders, and follow the situations of hedge funds, politicians, and insiders. He referred to this network as a "game changer."
The analyst stated, "We believe this is a powerful customer engagement mechanism that can support future net new user numbers and account growth by attracting customers from external social media platforms like Reddit (RDDT.US) and X."
Robinhood Social will be launched to some customers in the U.S. early next year.
As of Thursday's market close, Robinhood shares rose 0.25% to $117.75. The stock has increased by over 200% year-to-date
