Derived from The Tokenist, Robinhood Markets, Inc. (NASDAQ: HOOD) reported significant growth in November 2024, with a notable increase in cryptocurrency trading volumes. The company, based in Menlo Park, California, added 420,000 funded customers, bringing the total to 24.8 million. This growth reflects a year-over-year increase of 1.5 million customers. Net deposits reached $5.6 billion, marking a 42% annualized growth rate from October. Robinhood's crypto trading volumes soared to $35.2 billion, a 529% rise from the previous month and a 780% increase year-over-year. The company's stock has also seen significant movement, with a current price of $41.18 as of December 16, 2024. Despite a high debt-to-equity ratio, Robinhood's market capitalization exceeds $36 billion, with a total revenue of $2.4 billion. Analysts maintain a positive outlook with a target median price of $49.00.
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