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Benzinga
Benzinga
Business
Henry Khederian

Why Robinhood (HOOD) Stock Is Hitting New All-Time Highs Tuesday

HOOD Robinhood Robinhood Markets United States
Robinhood,Mobile,Icon,App,On,A,Screen,Smartphone,Iphone.,Robinhood

Robinhood Markets Inc (NASDAQ:HOOD) surged to a new all-time high on Tuesday, fueled by a combination of robust growth and strategic initiatives. The rally follows a strong August report revealing a 112% year-over-year increase in total platform assets to $304 billion, with $4.8 billion in net deposits for the month. Here’s what investors need to know.

What To Know: CEO Vlad Tenev on Monday highlighted the early success of event contracts, with over four billion traded since inception. The Robinhood CEO noted that trading volumes crossed two billion contracts in the third quarter alone.

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