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$HOOD ( ▼ 8.91% ) has 11 business lines over $100m. Let that sync in.
Earnings are out. The market isn’t happy with their misses. $HOOD ( ▼ 8.91% ) as of this writing is down over 11%.
Crypto punched them in the face. Not surprising. Annoying that $HOOD ( ▼ 8.91% ) trades in lockstep with crypto, but reality is other areas of the business like options trading wasn’t as high as everyone hoped.
The good- 11 business lines with over $100m in revenue.
Prediction markets- "Other transaction revenue" - the line that captures prediction markets - jumped to $147 million, up over 300% year over year. Robinhood traded a record 8.5 billion event contracts in Q4 and more than 12 billion for the full year. Preliminary January data shows 3.4 billion more, another record. A category that barely registered on the platform 18 months ago just softened what would have been a much uglier miss.
Banking & Credit Cards- continue to scale up and to the right. Massive opportunity across banking, credit cards and wealth management still.
The risk in my mind is prediction markets, but its also the upside! Regulation is the risk. The upside is as Vlad put it- Tenev declared the beginning of a "prediction market super cycle" and framed the long-term opportunity in trillions of annual volume. Their Rothera joint venture with Susquehanna will allow them to profit even more over time as they move volume from Kalshi.
$HOOD ( ▼ 8.91% ) is riding into the warm Summer months, looking to fully expand the business, and for a stock down around 33% YTD, the water is looking pretty refreshing. 27m accounts- that’s a lot of people who soon can open up accounts for their kids as well.
$hoo
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