AI Trading NASDAQ Fri, 19 May
Today’s featured asset is HOOD: Robinhood Markets Inc. Our AI-based trading strategy, tested between 2021-08-04 and 2023-02-03, has the potential to generate a return of 293.2%. On average, each trade produced a 41.89% return and lasted for 37 days. There were a total of 7 positions taken during this period.
The AI analysis suggests that HOOD is a STRONGBUY since 2023-05-18 with a price target of 8.86. This prediction is based on a model with an overall accuracy of 0.68 when predicting an upward trend in the following 2 weeks. The analyst consensus price target is 11.94.
Robinhood Markets Inc is a financial services company headquartered in Menlo Park, California. Founded in 2013 by Vladimir Tenev and Baiju Bhatt, Robinhood offers commission-free stock, ETF, and options trading. The company has since grown to offer a wide range of services and products including margin trading, cryptocurrency investing, cash management, and a web-based platform.
Robinhood has seen tremendous growth since its founding. By 2017, the company had over 3 million users and was valued at $5.6 billion. In October 2018, Robinhood launched a web-based platform for desktop trading, and in May 2019, it launched Robinhood Crypto, allowing customers to trade cryptocurrencies like Bitcoin and Ethereum. In October 2020, Robinhood raised $660 million in a Series G funding round, pushing its valuation to $11.7 billion.
Robinhood Markets Inc is an American financial services company that offers commission-free stock, options, and cryptocurrency trading. The company’s share price has been volatile since its initial public offering (IPO) in March 2021. After hitting a high of $69.31 on March 17th, the share price declined to a low of $47.49 on April 7th. Since then, the stock has recovered to its current price of $60.95 as of May 14th.
Robinhood Markets Inc has had a strong performance since its initial public offering in March 2021. The company’s stock price has more than doubled since then, and its market cap has grown to more than $50 billion. Additionally, the company has reported very strong revenue growth in the first quarter of 2021, increasing by more than 70% compared to the same period a year ago. Robinhood has also recently announced the launch of its savings and checking account, which has the potential to further increase its revenues. Overall, Robinhood has had an impressive performance in the first few months of 2021.
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The Third Perspective Team