10 Firms Post Double-Digit Gains on Thursday

8. Robinhood Markets Inc. (NASDAQ:HOOD)

Robinhood Markets jumped for a second day on Thursday, adding 14.11 percent to hit a new all-time high of $63.8 apiece as investors snapped up shares in the company following a nearly 3,000-percent surge in its net income in the fourth quarter of the year, thanks to the booming cryptocurrency industry.

In a statement, HOOD said net profit in the fourth quarter soared by 2,953 percent to $916 million from only $30 million registered in the same period last year, as net revenues jumped by 115 percent to $1.01 billion from $471 million, driven by a 700-percent jump in cryptocurrency revenues at $358 million.

For the full year 2024, the company swung to a net income of $1.4 billion, reversing a net loss of $541 million in 2023. Net revenues increased by 58 percent to $2.95 billion from $1.86 billion in 2023.

“We hit the gas on product development in 2024 with a new platform for active traders, Gold Card launch, an expanded UK and EU product suite, and much more,” HOOD CEO Vlad Tenev said. “We see a huge opportunity ahead of us as we work toward enabling anyone, anywhere, to buy, sell, or hold any financial asset and conduct any financial transaction through Robinhood.”