Noam Galai
Robinhood Markets (NASDAQ:HOOD) inventory touched as excessive as $9.19 Thursday, its highest in a month, after Bloomberg printed an interview with CEO Vlad Tenev. Its shares had been up 1.2% at ~$9.01 at 2:34 PM ET.
He seemed to be unfazed by the inventory’s speedy decline from its $38 IPO worth on July 29, 2021. “You’ll be able to’t run a enterprise, or actually reside your life, along with your feelings being pushed by how the inventory market is doing,” he advised Bloomberg.
The corporate’s inventory has declined by 51% YTD as seen within the chart beneath.
Within the article, Tenev described the corporate’s plan to cater to its most energetic customers, a shift from its earlier strategy to draw as many customers because it may. Its variety of month-to-month energetic customers have dropped from 21.3M in Q2 2021 to fifteen.9M in Q1 2022. Traders can be on the lookout for indicators of progress when Robinhood (HOOD) posts its Q2 outcomes on Wednesday, Aug. 3.
in Could, Sam Bankman-Fried, who owns FTX, has acquired a 7.6% stake in Robinhood (HOOD). And since then, Bloomberg has reported that FTX is exploring buying the inventory and crypto-trading app.
Tenev, although, mentioned constructing new merchandise is the corporate’s largest precedence. “We are able to do that basically, rather well as a stand-alone, public, impartial firm,” he advised Bloomberg.
Because it stands now, the common Wall Avenue estimate for Robinhood’s (HOOD) Q2 EPS is -$0.34. In Q1, it posted a $0.45 loss per share, lacking the consensus by $0.09.
