Robinhood earnings TLDR:
- Funded customers up 10% y/y to a record 26.5m
- Platform assets up 99% y/y to a record $279b
- Retirement AUC up 118% y/y to a record $19b
- Cash Sweep up 56% y/y to a record $33b
- Margin Book up 90% y/y to a record $9.5b
- Equity Trading up 112% y/y to a record $517b
- Option contracts volume up 32% y/y to a record 515m
Vlad's a chad. Congrats to the team (and shareholders)
• • •
Missing some Tweet in this thread? You can try to
force a refresh
1. Rates Lower but Higher
- Market is pricing in some serious cuts in ‘24 with a ~80% chance of rates ending sub 4%
- I’m on the less aggro side and say we end ‘24 north of 4% but sub 5%
- I’m betting inflation is sticky on the way down and the fed will have trouble cutting
2. Crypto Market Cap >$2T
- Trustless financial systems will only become more valuable (esp with lower rates)
- Global conflict, migrant flows, inflationary fiat, and fallible banking systems are all tailwinds
- Crypto market cap sits at $1.7t today and is headed higher