Opinions
Jon Nagerian, Co-founder, MarketRebellion.com
Robinhood
HOOD-Q
BUY
Sep 09, 2022
Stock price when the opinion was issued
You might be interested:
Premium contentRobinhood Markets, Inc., a financial services firm, has notably revolutionized the brokerage industry through its commission-free trading platform. Renowned for making investments more accessible to a broader audience, the company offers a mobile-centric solution, covering equities, ETFs, options, and cryptocurrencies. Robinhood's user-friendly interface and its zero-commission structure have attracted a substantial user base, particularly among younger investors. Despite its successes, the company has faced scrutiny over its business practices, particularly during the GameStop trading frenzy in early 2021, impacting its reputation among certain market participants. Social media mentions are up 89.6% in the past 24h.
Bottom line on momentum is not to fight it; just go with it, baby. That's the case here. You don't have to understand it. Move this year is parabolic. Though he can't see the momentum indicators such as MACD or RSI, the 1-year chart shows a bit of rounding. Could be just consolidating, but you don't want to see it break. If some of the momentum indicators start rolling over before the stock breaks down, that's a warning sign.
His videos talk about signs to spot a potential top.
Now a "mature" meme stock. Investors like it. He doesn't like that it's gone parabolic -- now what do you do? He has no idea where it goes from today.
If you own it and it's up so much in less than a year, perhaps sell some. At least put on a stop loss. Chart shows a peak from 2021 repeated in 2025 before it took off, just below $60, so this is a natural place for it to gravitate to.