Express

JPMorgan Chase Maintains "Underweight" Rating On Robinhood

Mary Liu

Summary: According to a report from U.Today, Kenneth Worthington, a JPMorgan Chase analyst maintains Robinhood an "underweight" rating with a target price of $35.  One of the reasons is the weak trading volume of Dogecoin. Worthington found, unlike trading platforms that focus on cryptocurrencies, Robinhood failed to see a surge in trading volume in October this ...

According to a report from U.Today, Kenneth Worthington, a JPMorgan Chase analyst maintains Robinhood an "underweight" rating with a target price of $35. 

One of the reasons is the weak trading volume of Dogecoin. Worthington found, unlike trading platforms that focus on cryptocurrencies, Robinhood failed to see a surge in trading volume in October this year, compared with the level in the second quarter of 2021, there has been a significant slowdown.

Dogecoin trading accounted for 62% of Robinhood's crypto-related revenue in Q2. At the time of writing, Robinhood is trading at $39.9, a daily decline of 3.34%.

By Mary Liu

Last Update:

Tags: ,,
Link: JPMorgan Chase Maintains "Underweight" Rating On Robinhood   [Copy]
  • Bitcoin Surges to New Highs, Momentum Points to Further Gains 3 days ago
  • Circle Intensifies Stablecoin Push with Key Exchange Partnerships 4 days ago
  • Trump's "Big and Beautiful" Bill Passes: Biden and Harris Criticize, Financial Expert O... 9 days ago
  • Silicon Valley Giants, Trump Ally Launch 'Crypto Bank' Erebor, Aiming to Fill SVB Void 11 days ago
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 16 days ago
  • You need to login to comment.