Jim Cramer Thinks Robinhood Markets, Inc. (HOOD)’s Social Network Is “Exciting”

We recently published 8 Stocks on Jim Cramer’s Radar. Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the stocks Jim Cramer recently discussed.

Robinhood Markets, Inc. (NASDAQ:HOOD) is one of Cramer’s favorite companies. He is a fan of the firm’s CEO, Vlad Tenev, and believes that its financial instruments’ trading platform is the most disruptive in the market. Cramer is a believer in Robinhood Markets, Inc. (NASDAQ:HOOD) because he believes not only does the firm’s platform resonate with younger users, but also because it is at the center of an inter-generational wealth transfer in America. His opinion about wealth transfer isn’t small. According to Jim Cramer, estimates show that the wealth transfer is estimated to sit at $100 trillion over the next couple of decades. Year-to-date, Robinhood Markets, Inc. (NASDAQ:HOOD)’s shares have gained 186% year to date and jumped by 15.8% last week. The shares soared after the firm was added to the S&P 500 index. Here is what Cramer said about Robinhood Markets, Inc. (NASDAQ:HOOD):

“Robinhood, by the way, is hosting. . it’s hosting the summit in Vegas. Vegas! How do you like that? There’s something interesting right. It’s unveiling new products for traders, including a new social network that I think is very exciting. I actually do.”

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Disclosure: None. This article is originally published at Insider Monkey.