Folks, we have always been fans of Robinhood as a solid platform for the casual investor, and we especially like its mobile app for its slick design and ease-of-use. The key word here is “casual” since Robinhood still falls short of professional trading platforms such as Thinkorswim (now owned by Schwab) or the OG favorite TradeStation (I have used TradeStation for more than 15 years).
That may be about to change, since there are rumors of Robinhood beta-testing a professional-grade desktop trading platform that will launch sometime later this year. Normally we don’t pay much heed to rumors, but this one caught my attention because it makes perfect sense. If Robinhood wants to grow to the next level, it has to attract the “stock bros” and professional traders, the folks who make 20-30 trades a day. That’s how you grow your business and trading volume exponentially. And you cannot do that with just a glitzy mobile app and a bare-bones web app.
This news/rumor, combined with strong fundamentals (their user growth numbers are pretty impressive) and a stock price on the verge of a technical breakout, all of this makes me super bullish. I will do more research and also reach out to Robinhood’s IR team if they want to comment publicly, but in any case I am buying the stock here at the $19 level and will add more if it pulls back. I want to get my position in before the train leaves the station - especially since the chart looks great!
Watch out for my next post on Robinhood (HOOD). Subscribe to Tech Billion to get the article in your inbox, we have over 35k subscribers for a good reason.
Disclaimer - everything in this blog is my personal opinion and NOT financial advise, please do your own DD before investing.