Wall Street expects Robinhood’s (HOOD.O), opens new tab revenue to hit record highs in the second quarter as retail investors flock to its commission-free app to trade so-called ‘meme stocks’ and cryptocurrencies.
The return of influencer Keith Gill, known online as “Roaring Kitty”, rekindled investor appetite for retail favorites like GameStop (GME.N), opens new tab, luring mom-and-pop investors back to Robinhood.
Its equity trading volumes surged 82% in April and 76% in May compared with a year ago.
Source: REUTER
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