Robinhood Soars to 2-Year High as Assets Top $118B, Crypto Growth Forecast

• Robinhood's assets under custody (AUC) grew 16% month-over-month to $118.7 billion in February • This is Robinhood's second consecutive month with over $100 billion in AUC • Bernstein began coverage of Robinhood stock with an "outperform" rating, expecting its crypto revenue to grow 9x by 2025 • Robinhood reported a surprise profit in mid-February and aims for 'profitable growth' in 2024 • Robinhood shares climbed nearly 9% on Thursday, hitting a 2-year high, on the strong AUC growth data