Posted 1/30/2024, 6:40:00 PM
Robinhood Stock Upgraded Amid Crypto Rally, But Sustainability Uncertain
- Robinhood Markets (HOOD) stock upgraded its Relative Strength Rating to 74 on Tuesday amid a crypto rally
- Robinhood has benefitted from the recent uptick in cryptocurrencies, but crypto trends are volatile
- The RS Rating measures a stock's price performance over the past year compared to other stocks
- Stocks with RS Ratings above 80 often begin major climbs, so watch if HOOD reaches that level
- Robinhood showed 0% earnings growth last quarter but 29% revenue gains