Could Robinhood Stock Help You Become a Millionaire By 2030?
Robinhood Markets (NASDAQ: HOOD) recently completed its initial public offering (IPO), and the company's valuation shows that investors have high growth expectations. Its market capitalization currently stands at $42 billion, which looks massive in comparison to Robinhood's tiny profit of $7.4 million in 2020.
The company's growth so far is admittedly impressive. For example, Robinhood's cumulative funded accounts have more than tripled to 18 million since the end of 2019. Likewise, assets under custody have increased from $14 million to nearly $81 million through Q1 2021. But before you decide to buy shares, you should be aware of obstacles in Robinhood's future.
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Source Fool.com
