Robinhood’s stock has surged by an impressive 107% since the start of 2024, driven by key factors such as a return to profitability and growing assets under custody (AUC), which jumped 65% to $130 billion. The platform’s expanding user base, now at nearly 24 million funded accounts, and a strong rise in retirement accounts are also contributing to investor confidence. The company’s diversification into services like retirement accounts and international expansion, especially into the UK, has further fueled optimism.

Moreover, experts highlight Robinhood’s unexpected profitability in early 2024 and revenue growth as catalysts for its stock rise. Wall Street analysts are also raising price targets, with some projecting continued gains due to rising customer engagement and new financial products.

While Robinhood’s stock has yet to reclaim its all-time high post-IPO levels (above $80), the momentum and positive forecasts suggest it could push higher, especially with more international expansion and service offerings. However, reaching previous IPO heights might depend on maintaining profitability and overcoming increasing competition.  Regardless the future is bright for Robinhood and with it’s steady momentum it should be on everyone’s radar as we head into next year.