The stock of Robinhood declined on February 25, but the chairman and CEO Vlad Tenav is confident.
In Interview On “Bloomberg Crypto” with Sonali Basak and Tim Stanowek, Tennev said, “Business is doing great.” He pointed to a strong results of 2024 in the fourth quarter, with a record of $ 1 billion in revenue and $ 50 billion in customer deposits for the year.
Asked about the market reform tracked by Bloomberg’s magnificent intake index, Tennev suggested that the dip was temporary. The post-Kamai rally of the previous week faded in today’s widespread market recession, with bitcoin (BTC) below $ 87,000.
Robinhood shares declined by 8%, which closed at $ 45.92, but increased 16% even after the beginning of the year. The stock dip followed a broad market recession, but the tenong did not give it to any specific reason beyond normal ups and downs.
Despite the fall, Tenev is optimistic about user engagement. “Our customer … is a long -term perspective on these things,” he said, given that many people see a decline in the market as opportunities to buy technology stock and cryptocurrency like bitcoin at low prices.
Business remains active
Tenav also said that instability benefited Robinhood. Active traders continue to use devices such as new Robinhood Legend platforms, which have produced $ 50 million in annual revenue since their launch. As the major technology enter the stock improvement sector, this can support the stable revenue growth for the business activity forum.
