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Robinhood: Will earnings lift the beleaguered stock?

2
Yahoo Finance Video

Robinhood is set to report earnings on Feb. 8.

Video Transcript

JARED BLIKRE: All right, I'm watching Robinhood, and I mean, the saga with Robinhood, we don't talk about this stock a lot. It's down half a percent. It's been stuck around 10-- it's been stuck between $10 and $20 a share for almost a year, going practically nowhere. But the stock got a little bit of a boost in interest, anyway, not in price, because of the fallout from FTX. Now, here's the latest story. Sam Bankman-Fried, entity that owns Robinhood's stake, goes bankrupt, OK? Now the US government has seized $590 million worth of Robinhood stock.

Does any of this have to do with earnings? Maybe not. But I think the story around this is quite interesting. And really, HOOD has been levered to stock prices. So being that they're depressed right now, we're in a bear market, we're in crypto winter, we'll probably not going to see that come back until we see the markets come back. And so I don't think the previous quarter is going to have much bearing on their stock.

SEANA SMITH: Yeah, it probably won't have much bearing on their stock, but it is always is interesting to look at this report, kind of get a gauge of the activity that we are seeing from retail traders, seeing how much activity they are seeing on their platform. Like, Jared, like you said, last year was certainly a troublesome year for that stock with shares off just about 24%. If the environment does improve, obviously, that would be good news for Robinhood, as well as a number of other companies out there.

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