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]
Next:

Related Articles

  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 5 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 6 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 8 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 8 days ago
  • The GENIUS Act & Stablecoin Regulation: BRG's Dominic Zagara on Crypto's Defining ... 11 days ago

    • You need to login to comment.