3 Reasons Why Robinhood Stock Could See 10X Gains
It's only been a few weeks since its IPO, but shares of discount brokerage Robinhood Markets (NASDAQ: HOOD) have more than doubled in value at one point and are currently trading up nearly 50% from their initial offering price. The stock has had a polarizing effect on the investing community. Many old-school investors think Robinhood stock is heavily overvalued because it's now trading at 60 times 2020 revenue despite posting just a marginal profit.
But a newer class of retail investors sees things quite differently. They think the company and its namesake app represent an important (and more affordable) means to an end for millions of non-traditional investors to get in on the gains that investing can provide. Robinhood's no-fee, easy-access structure allows virtually anyone to sign up and take part in investing, including the trendy meme-oriented short squeezes that have yielded mouthwatering returns for some.
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Source Fool.com
