Robinhood’s Trading Volumes Surge in February, Stock Skyrockets in After-Hours Trading 🚀📈

Robinhood Markets Inc. witnessed a substantial surge in trading volumes during February, with its stock soaring higher in Wednesday’s after-hours session. The online-trading platform recorded $80.9 billion in trading volumes for the month, marking a notable 36% increase from January’s figures. Options contract trading volumes also saw a 12% uptick to $119.1 million, while cryptocurrency trading volumes grew by 10% to reach $6.5 billion. Additionally, total assets under custody rose to $118.7 billion, representing a significant 16% increase compared to January levels, with net deposits amounting to $3.6 billion. Robinhood’s stock surged by 10% in after-hours trading, marking a remarkable 91% increase over the past 12 months. The company’s robust performance reflects a resurgence in retail trading interest, as evidenced by its recent quarterly earnings report, which highlighted upticks in monthly active users and transaction-based revenue. Chief Financial Officer Jason Warnick expressed optimism regarding Robinhood’s market potential, emphasizing its strategic positioning to cater to the evolving needs of retail traders over the next decade.