Robinhood CEO Stays Positive Amid Stock Dip
On February 25, Robinhood’s stock took a hit, but its chair and CEO, Vlad Tenev, remains upbeat. In a Bloomberg Crypto interview, Tenev shared his optimism about the company’s performance.
Tenev highlighted impressive fourth-quarter 2024 results, including a record $1 billion in revenue and $50 billion in customer deposits. He believes these figures show the business is thriving.
When discussing the market correction,Tenev noted it was temporary. The Majestic Seven index, tracked by Bloomberg, showed a dip.Bitcoin prices fell below $87,000, and Robinhood’s shares dropped 8%, closing at $45.92. However, the stock is still up 16% since the start of the year.
Tenev attributes the decline to normal market fluctuations. He remains confident in user engagement, stating that many customers view market downturns as chances to buy tech stocks and cryptocurrencies at lower prices.
Trading activity on Robinhood remains strong. The new Robinhood Legend platform has generated $50 million in annual revenue since its launch.Tenev believes this activity will support steady revenue growth,even as major tech stocks enter correction territory.
