Robinhood Markets has seen a significant influx of institutional investment, with top mutual funds injecting $1.12 billion into its stock. This surge follows robust first-quarter earnings and strategic acquisitions, including the purchase of Canadian digital asset firm WonderFi.
Key Takeaways:
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Robinhood reported Q1 earnings of $0.37 per share, a 106% year-over-year increase, with revenue climbing 50% to $927 million.
- The acquisition of WonderFi aims to bolster Robinhood’s crypto services in Canada, expanding its international footprint.
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