Robinhood Fills 'Glaring Product Gap'—Analyst Calls It A Game-Changer
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Robinhood Markets is set to attract more active traders with new product launches, according to analyst Patrick Moley from Piper Sandler, who maintains an Overweight rating with a $120 price target. Upcoming features include short selling, futures trading, and a social trading platform. Moley highlights short selling as a crucial addition that could enhance customer acquisition. Despite the positive outlook, he notes that these innovations may not yield immediate financial benefits. Robinhood's stock rose 3.3% to $122.38, reflecting a 210% increase year-to-date.
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