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Robinhood (HOOD) stock has gained approximately 3%, and 2.21% in the past one month and five days respectively.
Robinhood Markets Inc (NASDAQ: HOOD) stock traded around $41.35, down approximately 1.15%, as of October 11, 2021, 9:40 a.m EDT. Robinhood (HOOD) stock felt more headwinds following an SEC filing depicting that company anticipates more market challenges in the future. According to the company, cryptocurrency regulations are imminent as reported by SEC Chair Gary Gensler.
Notably, Robinhood significantly earns its revenue from retail traders seeking stock market investment and crypto trading. Nevertheless, the firm advertises its services as a commission-free stock trading and investing application.
Should cryptocurrency trading receive more regulations the fit is expected to lose some of its customers and volume. Additionally, should the SEC go ahead and formulate new rules pertaining to payment for order flow, the firm is expected to lose more revenue sources.
Robinhood went public a few months ago despite increased regulatory pressure. Notably, the early HOOD stock investors are set to start selling their shares as early as this Wednesday. Consequently, the selling pressure has seen HOOD stock continue trading downwards.
The return on live sports performance and increased downloads of sports betting apps have also affected the HOOD stock market. “We can’t help but wonder if the combination of the end of benefits, the return of work, and the return of live-action sports are all conspiring to hurt the 3 R (Retail, Robinhood, Reddit’s brigade),” Mirabaud tech analyst Neil Campling said.
However, it is worth noting that Robinhood is working to help its customers access the crypto market easily. Following an increased demand for crypto-related d asset trading, the firm has introduced a new feature to make automated investments in digital assets.
With such a feature, the firm anticipates attracting more users in the near-term future.
Robinhood (HOOD) Stock and the Market Outlook
Robinhood stock market remains under huge influence of the near future regulations, particularly by the United States SEC. Additionally, the firm is facing stiff competition for other upcoming stock trading and crypto trading platforms in the market.
According to market analytics provided by MarketWatch, Robinhood (HOOD) stock has gained approximately 3%, and 2.21% in the past one month and five days respectively.
The company has a reported market valuation of approximately $35.74 billion and 725.29 million outstanding shares. Should the company see its revenue source cut short and trading volume down over time, its market cap is poised to drop lower.
Nevertheless, a number of Wall Street analysts are optimistic the company will do well in the coming quarters. According to a survey conducted by MarketWatch, HOOD stock received an average rating of Over from 14 ratings.