Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the stocks Jim Cramer recently shed light on. During the lightning round, a caller asked for Cramer’s thoughts on the company, and he said:
“Alright, Robinhood’s had an extraordinary move, and usually when you have these extraordinary moves, you gotta let it kind of calm down a little. So I say let it calm down, but don’t forget, it’s an up-stock.”
Photo by Yiorgos Ntrahas on Unsplash
Robinhood Markets, Inc. (NASDAQ:HOOD) operates a financial platform that allows users to trade various asset classes, utilize investing tools, and access features such as fractional trading, retirement accounts, and cryptocurrency wallets. The company also provides educational content, newsfeeds, and a marketplace for digital currencies. It is worth noting that on July 21, Cramer commented:
“PARC exhausts me. I’m talking about my handy acronym for Palantir, AppLovin, Robinhood, and Coinbase. These are four of the many stocks that seem to have no quit in them, even if they all pulled back hard into the close today, giving us a rare moment to evaluate them on relative weakness. It’s better for me to talk about these stocks on a down day so you can get a discount if you were so inclined…
Now, even though I say PARC, these four stocks are just representatives of what’s been going on in this market. They’re actually the best of the lot. They have earnings. They have analysts following them who come up with estimates. Although judging by the way people have been buying these names, neither of them, those things like estimates and analysts, seems to matter at all…
While flying cars and experimental batteries don’t yet make money, PARC does, lots of it, oodles. Palantir, AppLovin and Robinhood, and Coinbase, they’re all pretty darn profitable. By comparison, during the dot-com era, most of these red-hot companies had little to no revenues and were actually running out of money, constantly tapping the public markets, at the same time that insiders were furiously [sell, sell, sell] their own stock because they knew there was no justification for these sky-high valuations. They got out.”
While we acknowledge the risk and potential of HOOD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HOOD and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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