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HOOD has declined a couple bucks after its earnings report
Not helping matters is the sale of large blocks of 144 stock by founder and CEO Viad Tenev
And stock by the CFO
What other challenges does Viad Tenev face
Robinhood was an innovative disrupter in the style of Kathie Wood who continues buying shares
Now there is competition from brokers like Webull and moomoo and whatever else is out there that opens its trading platforms at 4am Eastern US time
Viad has begun 24 hour trading in select issues I cant see how that is so disruptive since the instruments would appeal mostly to institutions and the number is minute compared to the thousands of issues
That in part could explain why Robinhood is losing accounts per this Jones Boys article
Robinhood Needs to Steal More Users -- Heard on the Street -- WSJ
7:30 am ET August 3, 2023 (Dow Jones) Print
By Telis Demos
Robinhood Markets turned a surprise profit in the second quarter. But that may not be enough to nab back its momentum just yet.
What originally got the world so excited about Robinhood -- explosive growth in active users -- is a thing of the past. Monthly active users declined by about a million over the course of the second quarter, to 10.8 million. That is around half the level of two years ago, when Robinhood was in the midst of 2021's wild trading surge. Transaction-based revenue from equities, options and crypto trading is also falling, dropping 8% quarter over quarter.
However, where Robinhood is growing is in customers bringing more money into the brokerage, even if they aren't trading as much: Net deposits grew at an annualized 21% rate in the quarter, and the company's Gold cash sweep accounts -- which now pay a 4.9% yield -- have more than doubled since the start of the year, to $11 billion. Interest-based revenue is continuing to grow.
There is also growing revenue from non-trading activity. Between fully paid securities lending, in which investors can lend out their shares to earn passive income, and transaction revenue from instant withdrawals and debit cards, the company generated $24 million in revenue -- just a million dollars shy of the revenue generated by equities trading in the quarter.
All of this helped average revenue per user grow from $77 in the first quarter to $84 in the second quarter, the fifth straight quarter of growth. And thanks in part to the company's founders canceling some of their stock awards, as well as other cost controls such as layoffs, Robinhood was able to generate $25 million in net income in the second quarter, versus the continuing loss analysts were anticipating, according to Visible Alpha. This is the first quarter of net profit since it became a publicly traded company.
Yet while this is certainly a milestone, there should only be limited fanfare in Sherwood Forest. Average user revenue of $84 remains well behind what other online brokerages have historically generated, by hundreds of dollars. It is also getting harder, not easier, to make money from cash: Robinhood's annualized yield on earning assets fell from 3.68% in the first quarter to 3.51% in the second.
A rise in interest revenue helped the stock jump nearly 60% this year through Wednesday. Now the bar is getting higher, though, with investors initially evidently disappointed by the quarter, despite the profit milestone: Shares were down about 6% in after-hours trading on Wednesday.
The bright side is that Robinhood is at least bringing in raw materials. While monthly active users are declining, the number of net cumulative funded accounts is up to 23.2 million, about 700,000 more than it had two years ago. The key is enticing customers into becoming even more active, and thus more lucrative.
"Over time as we broaden our product selection, and deepen our relationships with customers, you're going to see a more consistent relationship between [monthly active users] and total funded accounts," Chief Financial Officer Jason Warnick told analysts on Wednesday.
Of course, expectations need to be adjusted right now, since it is such a fallow time for trading. The number of customers placing trades was down quarter over quarter in equity, options and crypto. And only options saw an increase by notional volume, or contracts in the case of options, per trader.
Robinhood told analysts that, even at today's relatively lethargic levels, it believes it is taking market share in equities and options trading. Still, the merry band may have to steal a lot more share if it wants to thrill the market once again.
Write to Telis Demos at Telis.Demos@wsj.com
elf Beauty Inc NYSE: ELF
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Consumer Staples : Personal Care Products | Small Cap GrowthCompany profile
e.l.f. Beauty, Inc. is a multi-brand beauty company. The Company offers inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skincare products. The Company offers a range of products that are vegan and cruelty-free. The Company's brands include e.l.f. Cosmetics, e.l.f. SKIN, Well People, and Keys Soulcare. e.l.f. SKIN is an ingredient-focused, dermatologist-developed formula for every eye, lip, face and skin concern. The Company operates across beauty categories including eye, lip, and face makeup, beauty tools and accessories, and skincare products. Its color cosmetics and skin care products are broadly sold through food, drug, and mass channels, as well as through department stores and direct and specialty channels. The Company's brands are available online and across beauty, mass market and specialty retailers in the United States.
elf Beauty Inc NYSE: ELF
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Consumer Staples : Personal Care Products | Small Cap GrowthCompany profile
e.l.f. Beauty, Inc. is a multi-brand beauty company. The Company offers inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skincare products. The Company offers a range of products that are vegan and cruelty-free. The Company's brands include e.l.f. Cosmetics, e.l.f. SKIN, Well People, and Keys Soulcare. e.l.f. SKIN is an ingredient-focused, dermatologist-developed formula for every eye, lip, face and skin concern. The Company operates across beauty categories including eye, lip, and face makeup, beauty tools and accessories, and skincare products. Its color cosmetics and skin care products are broadly sold through food, drug, and mass channels, as well as through department stores and direct and specialty channels. The Company's brands are available online and across beauty, mass market and specialty retailers in the United States.
FSLR it’s going higher
FSLR it’s going higher
Match Group Inc NASDAQ: MTCH
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Communication Services : Interactive Media & Services | Mid Cap GrowthCompany profile
Match Group, Inc., through its portfolio companies, provides digital technologies. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, Hakuna, and other brands, which are designed for users to find a connection. The Pairs is a provider of online dating services in Japan, with a presence in Taiwan and South Korea. Hakuna Live is an interactive, social app that allows for one-to-many live streaming experiences. Azar is a one-to-one video chat service powered by real-time language translations that allow users to meet and interact with people across the globe in their native language. The League is a dating platform focused on career-oriented individuals, which requires users to apply and be accepted prior to using the app. The League is a dating platform focused on career-oriented individuals, which requires users to apply and be accepted prior to using the app. Its services are available in over 40 languages to users all over the world.
Match Group Inc NASDAQ: MTCH
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Communication Services : Interactive Media & Services | Mid Cap GrowthCompany profile
Match Group, Inc., through its portfolio companies, provides digital technologies. Its portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, Hakuna, and other brands, which are designed for users to find a connection. The Pairs is a provider of online dating services in Japan, with a presence in Taiwan and South Korea. Hakuna Live is an interactive, social app that allows for one-to-many live streaming experiences. Azar is a one-to-one video chat service powered by real-time language translations that allow users to meet and interact with people across the globe in their native language. The League is a dating platform focused on career-oriented individuals, which requires users to apply and be accepted prior to using the app. The League is a dating platform focused on career-oriented individuals, which requires users to apply and be accepted prior to using the app. Its services are available in over 40 languages to users all over the world.
Rover Group Inc NASDAQ: ROVR
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Consumer Discretionary : Diversified Consumer Services | Small Cap GrowthCompany profile
Rover Group, Inc. is an online marketplace for pet care. The Company connects pet parents with pet care providers who offer overnight services, including boarding and in-home pet sitting, and daytime services, including doggy day care, dog walking, drop-in visits, and dog training. The Company operates in the United States, Canada, the United Kingdom, Spain, France, Sweden, Italy, Germany, Norway, and the Netherlands. The Company has over 870,000 pet care providers across North America, the United Kingdom, and Western Europe.
Freshworks Inc NASDAQ: FRSH
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Information Technology : Software | Small Cap GrowthCompany profile
Freshworks Inc. is a software development company that provides modern software-as-a-service (SaaS) products. It provides solutions that serve customer experience (CX), information technology service management (ITSM), customer relationship management (CRM), sales and marketing, and human resource (HR) management. Its CX products include Freshdesk Support Desk, Freshdesk Contact Center, Freshdesk Omnichannel Suite, and Freshdesk Customer Success. Its sales and marketing products include Freshsales, Freshmarketer, and Freshsales Suite. Its ITSM product, Freshservice is a service management solution that integrates several traditionally disparate technologies, such as information technology (IT) service management, IT operations management, IT asset management, project and portfolio management, and enterprise service management, into a single unified solution. Its Freshworks Neo platform provides shared services that enable the release of new products.
Powell Industries Inc NASDAQ: POWL
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Industrials : Electrical Equipment | Small Cap BlendCompany profile
Powell Industries, Inc. develops, designs, manufactures and services custom-engineered equipment and systems. The Company distributes, controls and monitors the flow of electrical energy and provides protection to motors, transformers and other electrically powered equipment. Its principal products include integrated power control room substations (PCRs), custom-engineered modules, electrical houses (E-Houses), traditional and arc-resistant distribution switchgear and control gear, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches and bus duct systems. Its products are designed for application voltages ranging from approximately 480 volts to 38,000 volts and are used in oil and gas refining, onshore and offshore oil and gas production, petrochemical, liquefied natural gas (LNG) terminals, pipeline, terminal, mining and metals, light rail traction power, electric utility, pulp and paper and other industrial markets.
Leaders lead
Laggards lag
HOOD new 52 week high
Golden cross forming
HOOD that awful Cathie Wood bought more on Friday
Notice the potential Golden Cross, which is technically bullish
HOOD approaching the 52 week high and still kicking SOFI butt
HOOD
Finally happened 24/7 market from 8pm Sunday to 8pm Friday for select issues
HOOD advanced above $11
Some experts maintain it’s still bear market
Not according to the one year charts I’ve been posting
hood been bashed into the ground from highs of 60 per share over the years...gonna take a few long and see how this plays out
In some respects HOOD and SOFI are rivals. They do share one thing: massive floats
HOOD still in an uptrend
When Hood went public at $38 I predicted that soon (a year or so) "Hood" players would be embarrassed to have the app on their phones.
Very early on, Robinhood players did well with MJ stocks. But it's been steadily downhill for most in recent years. RH marketing was often bogus using the lure of "Free Trades" plus good access to IPOs... which have mostly underperformed.
My son signed up for Robinhood in 2021 and got like $50 in complementary Dogecoins (now 6 cents each). I don't think he ever made a real stock buy with RH.
It's a huge problem when your customer base is going broke by way of your product.
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