Blackrock’s 30 Most Important AI Stocks

24. Robinhood Markets, Inc. (NASDAQ:HOOD)

Number of Hedge Fund Holders: 36

Robinhood Markets, Inc. (NASDAQ:HOOD) operates as a financial services platform in the United States. The company’s appeal as an investment is driven by a multitude of contributing factors. Firstly, as per the report of the third quarter of 2024, transaction-based revenues increased 72% year-over-year to $319 million, primarily driven by options revenue of $202 million, up 63%, cryptocurrencies revenue of $61 million, up 165%, and equities revenue of $37 million, up 37%. In addition, funded customers increased by 1 million year-over-year to 24.3 million. Secondly, the company acquired Pluto, an AI-powered investment research platform, aiming to enhance Robinhood’s data analytics capabilities. This may attract investors as it holds the ability to personalize investment strategies, give real-time insights, and optimize portfolios. Moreover, the company also began rolling out Robinhood Legend, a powerful, sleek, browser-based desktop trading platform built from the ground up for active traders, and announced plans to launch futures and index options in the coming months with some of the lowest contract fees in the industry.