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Robinhood, an American financial services company, will unveil its financial results for the second quarter of 2021 this Wednesday. If the company unveils strong results, it may be the catalyst for the stock to jump.
Robinhood has brought stock investing in the USA to a new level. It raised the number of users from 7.2 in March 2020 to 18 million in March 2021. The platform’s success led to Robinhood's recent initial public offering (IPO).
In the long term, analysts believe the stock is well-positioned. It has a huge number of active users, which is growing every day. The company is going to expand internationally and broaden its assets class to cryptocurrencies, which is great for every company.
However, some analysts concern that the main source of Robinhood’s revenue comes from payment for order flow. It means that the company sells its customers' buy and sell orders to third-party brokerages. Therefore, if the entire stock market drops hugely, it may decrease the amounts of trading by investors. Fewer orders will result in less payment for order flow. Indeed, it’s a negative side of Robinhood’s business, but it won’t happen in the near future as economies are reopening and recovering.
The stock has opened at $36 per share. Then, it rocketed to $84.00 in only two days. However, after that, it dropped below $50.00. It has consolidated quite a long, and soon investors can start taking interest in Robinhood. Watch closely this stock. The support zone of $44.00-46.00 may stop the pair from further falling, where investors can find a 'buy the dips' opportunity.
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Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Moderna rocketed after an announcement that it is going to join the S&P 500 index. The New Zealand dollar surged after the nation’s inflation surpassed the central bank’s target level.
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
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