Robinhood Raises Over 11% Following Feb Estimates Blowout

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In premarket trading on Thursday, shares of Robinhood rose over 11% after a large increase in volumes was reported in February. The Crypto trading volumes grew 10% month-on-month to $6.5 billion. Equity trading volume jumped 36% to $80.9 billion, and options contracts traded increased 12% to $119.1 million. Total assets under custody rose 16% from January to $118.7 billion at the end of February. Broker Bernstein gave it an outperform rating and set a target of $30. The stock rose 4.7% to $17.16 on Wednesday and has gained 35% this year. Bernstein expects the total market cap to almost triple $7.5 trillion by 2025.