Wed Jan 15 15:40:00 UTC 2025: ## Robinhood Stock Soars 192% in 2024 on Growth in Customers and Assets

**NEW YORK, NY** – Financial services company Robinhood (HOOD) saw its stock price skyrocket by 192.5% in 2024, fueled by significant growth in both customers and assets under custody (AUC). The company, which has faced scrutiny in the past, has successfully diversified its offerings and attracted a larger investor base.

According to data from S&P Global Market Intelligence, Robinhood now boasts 24.8 million funded customers, a 6% year-over-year increase. More impressively, its AUC has surged to $194.6 billion, a remarkable 106% jump in just 12 months. This growth is partly attributed to the company’s attractive annual percentage yield (APY) of around 5%, offered to its higher-paying Robinhood Gold subscribers. These Gold subscribers, according to CFO Jason Warnick, are significantly more active and profitable for the company.

Robinhood’s strategic focus on retirement accounts has also paid off. The number of customers with IRAs and Roth IRAs has more than doubled, increasing from 390,000 to 940,000, and related AUC has grown from $1.1 billion to $9.9 billion. The company further incentivizes retirement savings with contribution matching programs.

Despite its impressive growth, Robinhood’s stock is trading at a high valuation (73 times earnings and 29.5 times this year’s forecasted earnings). However, its strong growth trajectory and appeal to younger investors make it an attractive option for growth-focused investors, according to analysts. The company continues to innovate, recently launching a desktop investing suite (Robinhood Legend) and plans to offer index options and futures. Robinhood has also reported four consecutive quarters of profit under generally accepted accounting principles.

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