Robinhood Markets, Inc.

Средний индекс, значительно упал. Быки продолжают терять уверенность.

Medium index, significantly down. Bulls continue to lose confidence.

Средний индекс, незначительно вырос. Медведи не избавились от неуверенности.

Medium index, slightly up. The bears have not gotten rid of their uncertainty.

Слабый индекс, значительно упал. Рынок не поддерживает быков.

Weak index, significantly down. The market does not support the bulls.

Сильный индекс, значительно вырос. Рынок на стороне медведей.

Strong index, significantly up. The market is on the bears' side.

Сильный индекс, без изменений. Отток средств из лонгов на высоком уровне.

Strong index, flat. Outflow of funds from longs at a high level.

Сильный индекс, без изменений. Приток средств в шорты на высоком уровне.

Strong index, flat. Inflow of funds into shorts at a high level.

Key Points
Cathie Wood's flagship fund bought Robinhood shares twice in early September, after a summer of selling.
Customers traded 4.7 billion event contracts in August, 15 times the year-ago total.
Customers' margin balances have climbed 72% over the past year, to $21.5 billion.
Cathie Wood's ARK Invest went back to Robinhood (NASDAQ:HOOD) this month. The firm bought 28,589 shares of the brokerage for its flagship ARK Innovation ETF on Sept. 4, then added 27,083 more on the first trading day after the Labor Day break.
The purchases mark a reversal. ARK sold Robinhood shares for much of the summer, unloading a big block in July and selling again as recently as Aug. 26. And while the firm discloses its trades daily, those notices don't explain the reasoning, so Wood hasn't said what changed her mind.
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The first of the two buys came one day after shares jumped about 17% in a single session. Even after that pop, the stock (about $113 as of this writing) would still have to climb about 36% to get back to its 52-week high of $153.86.
Robinhood published its August operating data on Thursday, two days after the second purchase. Those numbers describe the business ARK was buying, and I think they make the purchases easier to understand.
Here are three reasons I think Wood is buying Robinhood stock again.
Image source: Getty Images.
1. Event contracts now out-earn crypto
Robinhood's event contracts (prediction markets, where customers trade yes-or-no contracts on outcomes like elections and economic data) are scaling faster than anything else the company operates. In the second quarter, event contracts generated $156 million of revenue, up more than 10-fold year over year. That was more than the $100 million Robinhood earned from crypto trading during the period, a line whose revenue fell 38%.
The growth carried into August. Customers traded 4.7 billion event contracts during the month, 15 times the year-ago figure but 23% less than July. July's 6.1 billion was itself down 5% from June.
Sure, volumes have now cooled for two straight months from the June peak. But a product still running at 15 times last year's volume is arguably the kind of new-market growth a fund like ARK exists to own.
2. Assets keep flowing in
The tech company ended August with $384 billion in total platform assets, up 8% from the end of July and 26% year over year. Net deposits added $4 billion during the month and about $74 billion over the trailing 12 months. That deposit figure is money that flowed into accounts, separate from anything the market did. And it kept arriving even when the totals dipped -- total platform assets fell 4% in July, to $355 billion, before the August rebound. Funded customers reached 28.6 million, up about 1.9 million over the past year.
After all, nearly everything else a brokerage earns runs on those assets: trading activity, margin lending, and interest on customer cash. An asset base a quarter larger than it was a year ago gives Robinhood more to monetize no matter which product is popular in a given month.
3. Customers are borrowing more
Margin balances ended August at $21.5 billion, up 4% from July and 72% over the past year. Robinhood's margin book had already more than doubled over the 12 months through June, finishing the second quarter at $21.6 billion, and balances have held near that level since.
In other words, customers aren't just parking money on the platform. They're borrowing against their portfolios to invest more. And that lending earns Robinhood interest in busy markets and quiet ones.
Of course, margin balances can unwind quickly in a market decline, and the interest income tied to them moves with rates. But that kind of deepening engagement is a big part of what makes Robinhood a growth stock rather than an ordinary brokerage.
Would I buy the stock, too?
As for whether I'd join Wood, I view Robinhood stock as a hold today -- not a buy.
The company is executing about as well as a growth investor could ask. However, the stock isn't a clear buy here, in my opinion.
At about 39 times projected earnings for 2027, shares already assume years of strong growth from the same business lines. For investors who already own them, that alone isn't a reason to sell, in my view. If the stock fell meaningfully from here, or if event contracts kept scaling anywhere near their current pace while the share price stood still, I could change my mind.
Should you buy stock in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $417,413!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,294!*
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Daniel Sparks and his clients do not have positions in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

3 Reasons I Think Cathie Wood Is Buying Robinhood Stock Again

Robinhood Markets’ HOOD push into tokenized equities is drawing fresh scrutiny after AMC Entertainment CEO Adam Aron objected to a Robinhood-linked token referencing AMC shares without the company’s approval. Aron argued that the product could confuse investors and undermine issuer rights, while Robinhood CEO Vlad Tenev defended the structure, saying companies do not control third-party products that reference their shares.
The dispute matters because tokenization is central to Robinhood’s international expansion strategy. Its new Stock Tokens, issued by Robinhood Assets (Jersey) Limited, cover more than 190 U.S. stocks and ETFs, and are available through Robinhood Wallet in more than 120 countries. Separately, the company offers more than 2,000 Classic Stock Tokens to eligible European customers with 24/5 trading.
However, these products are not underlying shares. Robinhood’s filings state that Stock Tokens are tokenized debt securities providing economic exposure but no legal or beneficial ownership or voting rights. They are not registered under U.S. securities laws and are restricted in markets including the United States, Canada, the United Kingdom and Switzerland.
Regulation could therefore slow expansion. Robinhood has acknowledged that the Securities and Exchange Commission could assert jurisdiction because the referenced assets are U.S. securities. At the same time, the Bank of Lithuania has sought clarifications on its European tokenized-stock offerings.
Tokenization remains integral to Robinhood’s global expansion. With more than 1 million international funded customers, $384 billion in platform assets and 28.6 million funded customers, regulatory friction is likely to raise compliance costs and delay execution. Still, it is unlikely to derail HOOD’s broader growth.
How are Robinhood’s Peers Expanding Globally?
Two close peers of HOOD are Charles Schwab SCHW and Interactive Brokers Group IBKR.
Schwab is expanding globally through international brokerage, Global Account access to foreign markets and advisory services for overseas clients, with operations spanning the U.K., Hong Kong and Singapore. However, country-specific restrictions and oversight from foreign regulators, alongside capital, client-protection and market-conduct rules, can raise costs and constrain product expansion internationally for Schwab.
Interactive Brokers is expanding globally by adding Korean equities, Brazilian futures, Romanian stocks and easier Latin American funding, extending access across more than 170 markets. However, Interactive Brokers’ operations face oversight from U.S. and foreign regulators, higher compliance costs, capital requirements, licensing constraints and risks from changing securities, derivatives and cross-border rules.
HOOD’s Price Performance, Valuation & Estimate Analysis
Over the past three months, Robinhood’s shares have gained 21.6%, outperforming the industry’s 8.5% growth.
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.77X compared with the industry average of 3.34X.
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 2%. The trend is likely to continue next year, with earnings expected to jump 34.5%. In the past week, earnings estimates for 2026 and 2027 have been revised higher to $2.09 and $2.81 per share, respectively.
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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HOOD Stock Tokens Draw Fresh Scrutiny: Could Regulation Slow Expansion?

Key Points
Pump.fun is arguably the most dominant and most successful launchpad project.
Pons, a newcomer launched on the Robinhood Chain, is eating Pump.fun's lunch.
Pons also lacks the legal problems that Pump.fun has.
It's often said that during a gold rush, the smartest move is to sell picks and shovels rather than pan for gold yourself. In that vein, Pump.fun (CRYPTO: PUMP) on Solana and Pons (CRYPTO: PONS) on the new blockchain by Robinhood Markets are two of the biggest token launchpads in crypto right now. For a fee, these projects and others like them make the formerly onerous process of spinning up a new coin an easy workflow that takes a minimal amount of capital and less than five minutes. The token's price ascending to the moon after launch is, unfortunately, not guaranteed.
Despite only launching about two months ago, Pons has out-earned Pump.fun in daily fees every day since Aug. 29. That might not last once the enthusiasm surrounding the Robinhood Chain starts to taper. So, which of these projects is the better launchpad to buy right now to get exposure to one area of the crypto market's next possible boom?
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Pons is already rivaling its larger competitor
A launchpad project lets anyone mint a token and then start to trade it at once. The launchpad captures a sliver of the value of every trade thereafter.
Pump.fun has been on Solana since the start of 2024, and it was instrumental in stoking the multiple meme coin manias that followed shortly after that, which have become inseparable from the chain's identity. Its token launched in mid-2025.
Pons' home, the Robinhood Chain, was only opened for business on July 1, and Pons hit the market just a few days later. So far, that chain has been largely characterized by the same type of intensive meme coin trading that was previously the domain of Solana, so Pons is positioned very favorably right out of the gate, much like Pump.fun was.
During the 30-day period ended Sept. 10, data from DefiLlama indicates that Pons had $96.9 million in fees, versus Pump.fun's $151.9 million. That Pump.fun figure covers its parent protocol, which also includes a decentralized exchange and a trading bot; on the launchpad alone, it collected $46.3 million, so Pons leads on daily fees. But there are several complications to be aware of.
Pons retained only $17.8 million of the fees it captured, of which it returned $8.1 million to its holders via buybacks. In contrast, Pump.fun retained $57.1 million in fees, of which it returned $26.2 million to its holders. In practice, Pons sends 9% of its fees to its holders, plus a tiny slice to the exchange where the tokens are traded. Pump.fun, on the other hand, distributes 17% of its fees to holders.
So both of these projects are raking in revenue from their launchpad operations, and sending a slice of it to their holders, but for now, Pump.fun passes on a larger portion of the value.
Should you buy either of these coins?
It is likely that both Pons and Pump.fun will see their prices rise considerably during the coming quarters. Nonetheless, investors should probably not buy either of them for now due to their substantial risks.
Pump.fun has a major legal overhang. Three of the founders of its parent company, Baton, are defendants in a class action lawsuit that alleges racketeering based on acts of wire fraud, illegal gambling, and unlicensed money transmission. The complaint against entities related to the Solana blockchain in the same lawsuit was recently dropped, but Pump.fun's portion of the suit is still active.
The issue with Pons is that it hasn't been around long enough. Its only been operating for about 10 weeks long, and in that period, Robinhood has been paying certain transaction costs for the users of its chain. That subsidy expires on Sept. 29, and it could lead to lower chain activity, which would hurt Pons and its ability to generate revenue.
The larger issue is that both Pump.fun and Pons are, for now, almost entirely dedicated to launching meme coins rather than serious crypto projects. The speculative mania and high liquidity environment that both have enjoyed can dissipate as quickly as they arrived, and buying either coin right now would mean paying a premium for them while they're hyped up rather than accumulating them at the lows.
Still, Pons likely has more potential upside for now, and it's the better option of the two. Its position in the Robinhood Chain's ecosystem could prove very profitable for its holders as the network grows, which it's only just starting to do.
Should you buy stock in Pons right now?
Before you buy stock in Pons, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pons wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $410,024!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,372,815!*
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*Stock Advisor returns as of September 11, 2026.
Alex Carchidi has positions in Pons and Solana. The Motley Fool has positions in and recommends Solana. The Motley Fool has a disclosure policy.
Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Better Crypto Launchpad in September: Pump.fun vs. Pons

Key Points
Robinhood is going to be a direct underwriter for the Oura IPO.
The company is moving beyond just making money on stock trades.
The stock looks expensive today.
Is Robinhood (NASDAQ: HOOD) trying to dethrone Goldman Sachs? Not quite, but it is slowly creeping toward becoming an investment bank for its individual client traders.
2026 is turning into the hottest initial public offering (IPO) year on record for capital raised, and Robinhood wants to turn that into value for its customers. For the first time ever, Robinhood will be an underwriter for an IPO, which will help deliver IPO allocations directly to its customers and generate direct revenue.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Does that make Robinhood stock a buy today?
Underwriting the Oura IPO
Soon, the smart ring and health insights company Oura Ring will go public via an IPO. It is looking to raise $3 billion from investment banks as a part of the IPO process and has chosen 18 banks to work with.
The last bank on the list is a surprise: Robinhood. The brokerage for individual investors is, for the first time, going to underwrite an IPO, meaning Oura will use it to sell stock directly to its Robinhood clients. This differs from Robinhood's previous IPO program for its customers, which simply served as an intermediary connecting clients to IPO allocations.
Now it can sell common stock directly to its customers, which could help it gain a competitive edge over other brokerages. If Robinhood is the best app for securing IPO allocations, it could drive greater customer adoption.
Emerging beyond just a brokerage
Robinhood's brokerage business is doing well today. Last quarter, transaction revenue grew 44% year over year to $776 million even as cryptocurrency revenue collapsed. This is due to steady growth from its stock-and-options trading platforms, along with rapid growth from its new events trading platform, which is similar to prediction markets like Polymarket.
In personal finance, Robinhood has moved toward becoming more of a bank, aiming to attract deposits and customers for its credit cards. Its "other" revenue grew 54% to $143 million last quarter, and it now says it has 13 business lines with annualized revenue of $100 million or more. This is much more than just a stock trading platform.
It recently launched a high-fee benefits card called Robinhood Platinum (stealing directly from the American Express brand) that could drive even more payments and subscription revenue. Robinhood's average revenue per user (ARPU) grew 24% year over year last quarter to $187 and has grown by 14% annually since 2020.
Should you buy Robinhood stock?
Right now, Robinhood trades at a market cap of $104 billion, making it one of the largest financial services companies in the world. Its trailing net income is $2 billion, giving the stock a price-to-earnings ratio (P/E) of around 51.
This is expensive for a stock trading platform, let alone a business trying to move into banking services (most banks trade around 10x earnings). Robinhood has shown investors it can grow by expanding into new product categories, such as the Robinhood Platinum card or this recent foray into investment banking to fund IPO shares for its customers. However, much of the future growth associated with these financial services products seems priced into the stock today.
Robinhood's net income grew 48% last quarter to $573 million. Remember, these are bull market earnings, too. Don't expect Robinhood's net income to grow at 48% per year in perpetuity. To reach $10 billion in annual earnings and a valuation that makes sense for a brokerage/banking stock, it will need to grow its net income by 5x. That will take many years even if this current earnings growth rate is upheld. It is likely best to wait to buy Robinhood stock until it reaches a cheaper level.
Should you buy stock in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $410,024!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,372,815!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 10, 2026.
American Express is an advertising partner of Motley Fool Money. Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends American Express. The Motley Fool has a disclosure policy.

Robinhood's New Role in the IPO Process Could Have It Earning Fees Like an Investment Bank

Key Points
Robinhood recently got approval to underwrite IPOs at a key time for IPO activity.
It was listed as an underwriting partner for the Oura IPO, which was just filed.
Robinhood continues to break down barriers for the retail investor.
2026 is the year of the initial public offering (IPO) resurgence. After hitting a high of 1,035 IPOs in 2021 during the special purpose acquisition company (SPAC) craze, there were only 181 the year after when the S&P 500 lost almost 20% of its value in 2022. Since then, there have been limited high-profile IPOs, until recently.
2026 has already seen the two largest IPOs ever. Space Exploration Technologies debuted with $86.7 billion raised, while just a few weeks later, South Korean memory company SK Hynix raised $26.5 billion. On the heels of that, the artificial intelligence (AI) company Anthropic, maker of the Claude large language model (LLM), plans to go public by the end of October. According to reports, it's aiming to raise up to $100 billion.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Just in time, fintech powerhouse Robinhood Markets (NASDAQ: HOOD) has been approved by regulators to start underwriting stocks, and it just got its first job.
More power to retail investors
Robinhood was the first trading platform to offer fee-free trades, starting a revolution for retail investors. Today, fee-free trades are the norm. Robinhood has remained the home for retail investors who band together to spark change, like they did last year with Opendoor Technologies.
Management is committed to breaking down barriers in finance, and it rolls out new products all the time. "Robinhood exists to make everyone an owner," CEO Vlad Tenev said on the second-quarter earnings call. It offers IPO access to its users, and it was one of the five platforms chosen for retail investor access to the Space Exploration Technologies IPO in June. At that time, Robinhood received regulatory approval to become an underwriter. "We intend to be disruptive in this space," Tenev said.
Underwriting is the process of preparing a company to go public, including preparing all regulatory filings, helping set a price, buying the stock to sell to the public, and other activities. Most companies have a lead underwriting institution, plus others that help market and sell the stock.
Robinhood secured its first underwriting role for fitness-tracking ring company Oura, which filed to go public last week. It was listed last, behind 17 other underwriters led by Goldman Sachs, Morgan Stanley, and JPMorgan Chase, but it opens up a new addressable market for the financial disruptor.
That doesn't mean it will get a shot at Anthropic's IPO or OpenAI's whenever it goes public. But Robinhood has a history of wedging itself into legacy spaces in finance, and this broadens its ecosystem, making it a more powerful player.
Should you buy stock in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $414,015!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,385,459!*
Now, it’s worth noting Stock Advisor’s total average return is 960% — a market-crushing outperformance compared to 213% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 9, 2026.
JPMorgan Chase is an advertising partner of Motley Fool Money. Jennifer Saibil has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group and JPMorgan Chase. The Motley Fool has a disclosure policy.

As Anthropic's IPO Looms, This Small Financial Powerhouse Just Got Its First Underwriting Job

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Robinhood Markets Inc (Symbol: HOOD), where a total of 116,244 contracts have traded so far, representing approximately 11.6 million underlying shares. That amounts to about 54.1% of HOOD's average daily trading volume over the past month of 21.5 million shares. Particularly high volume was seen for the $125 strike call option expiring September 11, 2026, with 9,262 contracts trading so far today, representing approximately 926,200 underlying shares of HOOD. Below is a chart showing HOOD's trailing twelve month trading history, with the $125 strike highlighted in orange:
Blackstone Inc (Symbol: BX) saw options trading volume of 18,251 contracts, representing approximately 1.8 million underlying shares or approximately 52.7% of BX's average daily trading volume over the past month, of 3.5 million shares. Especially high volume was seen for the $133 strike put option expiring September 11, 2026, with 2,446 contracts trading so far today, representing approximately 244,600 underlying shares of BX. Below is a chart showing BX's trailing twelve month trading history, with the $133 strike highlighted in orange:
And Texas Pacific Land Corp (Symbol: TPL) options are showing a volume of 1,888 contracts thus far today. That number of contracts represents approximately 188,800 underlying shares, working out to a sizeable 52.4% of TPL's average daily trading volume over the past month, of 360,285 shares. Particularly high volume was seen for the $300 strike put option expiring October 16, 2026, with 826 contracts trading so far today, representing approximately 82,600 underlying shares of TPL. Below is a chart showing TPL's trailing twelve month trading history, with the $300 strike highlighted in orange:
For the various different available expirations for HOOD options, BX options, or TPL options, visit StockOptionsChannel.com.
Further HOOD Research:

Notable Wednesday Option Activity: HOOD, BX, TPL

The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, Robinhood Markets is now the #66 analyst pick, moving up by 1 spot.
This rank is formed by averaging the analyst opinions for each component from each broker, and then ranking the 500 components by those average opinion values.
Looking at the stock price movement year to date, Robinhood Markets is lower by about 33.1%.

S&P 500 Analyst Moves: HOOD

In a study of analyst recommendations at the major brokerages, for the underlying components of the S&P 500, Robinhood Markets Inc (Symbol: HOOD) has taken over the #45 spot from Equinix Inc (Symbol: EQIX), according to ETF Channel. Below is a chart of Robinhood Markets Inc versus Equinix Inc plotting their respective rank within the S&P 500 over time (HOOD plotted in blue; EQIX plotted in green):
Below is a three month price history chart comparing the stock performance of HOOD vs. EQIX:
HOOD is currently trading off about 0.2%, while EQIX is up about 1.2% midday Tuesday.
Further HOOD Research:

Robinhood Markets Takes Over #45 Spot From Equinix

Robinhood Markets HOOD is expanding beyond retail brokerage by joining the underwriting syndicate for smart-ring maker Oura’s planned IPO. Oura’s SEC filing lists Robinhood Securities among 18 underwriters, marking its first official IPO underwriting role.
The move is likely to be favorable for Robinhood as it broadens its financial services ecosystem. Through IPO Access, the company has historically depended on investment banks to allocate it a limited number of IPO shares for distribution to customers. An official role in the underwriting process could give Robinhood greater influence over retail allocations, potentially helping it secure more shares for its users.
Greater IPO availability is expected to strengthen customer engagement and make Robinhood more attractive to investors seeking early access to high-profile listings. It is also likely to support account funding, asset inflows and subsequent trading activity, while making Robinhood’s large retail base more valuable to issuers. Over time, deeper issuer relationships could also create opportunities for underwriting fees and larger capital markets mandates.
Robinhood Ventures Fund I also holds Oura, pointing to an existing relationship with the company.
The development complements Robinhood’s broader financial services expansion. However, the company appears near the bottom of Oura’s underwriting syndicate, suggesting its initial economics and influence may be modest. Building a meaningful investment banking franchise will likely require larger mandates, a sustained IPO pipeline and stronger issuer relationships over time. While the move adds another potential source of fee-based revenues and supports Robinhood’s diversification efforts, it remains too early to view underwriting as a material growth driver.
How are Robinhood’s Peers Diversifying Beyond Trading?
Two close peers of HOOD are Charles Schwab SCHW and Interactive Brokers Group IBKR.
Schwab has been diversifying beyond trading by expanding into wealth management, banking, lending and advisory services, while enhancing offerings for ultra-high-net-worth and RIA clients. Schwab is also investing in AI-enabled advice and digital banking to deepen client relationships and generate more recurring, less transaction-dependent revenues.
Interactive Brokers is diversifying beyond traditional trading by expanding crypto and stablecoin services, prediction markets,global marketaccess and AI-powered investing tools. Interactive Brokers’ strategy centers on a unified multi-asset platform that deepens client engagement and broadens revenue opportunities across emerging financial products and technologies.
HOOD’s Price Performance, Valuation & Estimate Analysis
Over the past three months, Robinhood’s shares have jumped 45.7% compared with the industry’s growth of 10.8%.
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 12.69X compared with the industry average of 3.38X.
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 2%. The trend is likely to continue next year, with earnings expected to jump 34.5%. In the past week, earnings estimates for 2026 and 2027 have been revised higher to $2.09 and $2.81 per share, respectively.
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Robinhood Enters IPO Underwriting: Can IB Be the Next Growth Avenue?

Key Points
Robinhood has been rapidly gaining market share and winning over younger investors, especially with its new prediction market segment.
Charles Schwab has been a staple for more than 50 years, and it continues to ride the momentum of high trading volume.
JPMorgan Chase is approaching a $1 trillion market cap and still trades at a compelling valuation.
Financial stocks rely on people regularly spending, saving, and investing their money. Fintech is the latest innovation that has helped big banks reach new customers while letting smaller companies quickly accumulate market share.
The financial sector is full of options, but these three picks offer buy-and-forget potential through 2030.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
1. Robinhood
Robinhood (NASDAQ: HOOD) has been quite a volatile stock. It was down by more than 40% earlier in the year but has since recovered all those losses, registering an 8% gain this year.
The company, which started as an online securities trading platform, has 13 businesses that generate more than $100 million in annualized revenue, including its red-hot prediction markets segment. This part of the business quickly evolved from a tiny slice of sales to more than 10% of revenue within a year. Revenue from this division rose more than 1,000% year over year in the second quarter.
Although Robinhood's prediction market segment captures the most headlines, established parts of its business continue to perform well. Overall revenue increased 32% year over year, with options and equity-related revenue up by 29% and 95%, respectively.
The fintech company continues to attract young customers. A 7% increase in the total number of funded customers is a testament to that fact. Although Robinhood still makes most of its money from investing-related transactions, the company is branching out to other financial products and services in a bid to become the top one-stop shop for consumers.
2. Charles Schwab
Charles Schwab (NYSE: SCHW) has been a staple for investors for more than 50 years. The discount brokerage firm makes it easy to open trading, retirement, and other investment accounts.
The financial company also happens to trade at a reasonable price-to-earnings (P/E) ratio of 20 while having annualized 18% revenue growth during the past five years.
Recent financial results suggest that Schwab's growth trajectory will continue. The company delivered 21% year-over-year revenue growth that came on the back of a 47% boost in net core assets. As total assets rise, Schwab makes more revenue from fees, and more assets can also increase the number of transactions. A 57% increase in average daily trading volume demonstrates that more assets translate into higher engagement rates.
Schwab's total client assets reached $13.1 trillion in the second quarter. That kind of competitive strength is hard to match, and it implies that Schwab will continue to gain market share in the years ahead. The company even launched Schwab Crypto to attract more users who want to invest some of their money in cryptocurrencies.
3. JPMorgan Chase
JPMorgan Chase (NYSE: JPM) is about to become the first bank stock to reach a $1 trillion valuation. The original JPMorgan was founded in 1871, and after many acquisitions, it has become the largest U.S. bank.
The company continues to attract capital from investors and savers. While average deposits rose a modest 3% year over year, JPMorgan Chase's client investment assets rose 21%. Investment activity has driven some of the highest growth rates for the bank, with equities revenue up by 86% year over year.
JPMorgan Chase is what every financial company aspires to become. The corporate giant is well-entrenched in every part of consumers' lives. It originates loans, issues credit cards, offers brokerage accounts, and provides a wide range of additional products. Chief Executive Officer Jamie Dimon told investors in the Q2 press release that "revenue in each line of business hit a new record."
The stock is up 11% year-to-date and with a market cap of more than $950 billion it's close to entering the trillion-dollar club. Although smaller, higher-growth fintech companies have the potential to outperform it, JPMorgan Chase offers a better margin of safety with its conservative 15.4 P/E ratio.
Should you buy stock in Robinhood Markets right now?
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JPMorgan Chase is an advertising partner of Motley Fool Money. Charles Schwab is an advertising partner of Motley Fool Money. Marc Guberti has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool recommends Charles Schwab and recommends the following options: short September 2026 $95 calls on Charles Schwab. The Motley Fool has a disclosure policy.