Welcome to our dedicated page for Robinhood Markets news (Ticker: HOOD), a resource for investors and traders seeking the latest updates and insights on Robinhood Markets stock.
Robinhood Markets, Inc. reports news tied to its retail financial services platform, including brokerage activity, customer assets, net deposits, trading volumes, margin balances, cash and deposit balances, and cash sweep programs. Company updates also cover earnings releases, capital-structure matters, governance items, and shareholder voting matters.
Recurring announcements include product and subsidiary developments such as Robinhood Banking, Robinhood Gold services, and Robinhood Ventures, the investment adviser to Robinhood Ventures Fund I. Fund-related news has included closed-end fund investments in private companies and portfolio construction updates connected to RVI.
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Robinhood Markets (NASDAQ: HOOD) announced its upcoming release of first quarter 2023 financial results scheduled for May 10, 2023, after market close. An earnings conference call will follow at 2:00 PM PT/5:00 PM ET, with a live webcast available at investors.robinhood.com. Shareholders can engage by submitting questions via Say Technologies' platform starting May 3, 2023, until May 9, 2023. The Q&A session will allow management to address selected queries regarding business and financial performance during the earnings call.
Capitalize has partnered with Robinhood to help customers locate and consolidate old 401(k)s, addressing the $1.4 trillion in unclaimed assets. This collaboration will simplify the rollover process into Robinhood's individual retirement accounts (IRAs).
Since launching Robinhood Retirement, nearly 500,000 customers have utilized the platform, which offers a unique 1% annual match. To promote this service, Robinhood is providing an extra 1% bonus on transfers from external accounts until April 18. The partnership aims to tackle the challenge of tracking retirement savings, as millions struggle to roll over funds from previous jobs.
Robinhood Markets (HOOD) reported its operating metrics for February 2023, revealing a net cumulative funded accounts (NCFA) of 23.1 million, a slight increase of 50,000 from January. Monthly active users (MAU) remained stable at 12.0 million, yet this reflects a 28% decline year-over-year. Assets under custody (AUC) were stable at $74.7 billion, while net deposits rose to $1.5 billion, marking a 25% annualized growth. Trading volumes increased for equities ($57.3 billion, up 25%) and options (89.4 million contracts, up 8%), but dropped for cryptocurrencies ($3.5 billion, down 7%). Margin balances increased to $3.3 billion, and cash sweep balances grew to $8.0 billion.