Robinhood's cryptocurrency trading volume increased 10% in February, and its stock price rose 12% premarket
Robinhood stocks rose 12% in pre-market trading to $19.23, after the platform reported a significant increase in trading volume in February. In the latest report after Wednesday's close, the company stated that trading activity for all asset classes had increased compared to January, with stock trading volume jumping 36% to $80.9 billion, options contract trading volume increasing 12% to $1.191 billion, and cryptocurrency trading volume increasing 10% to $6.5 billion. As of the end of February, the platform's total assets under custody increased 16% to $118.7 billion compared to January.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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