"Robinhood Soars as Crypto Assets Surge, Outperform Rating Boosts Stock"
Robinhood's shares surged nearly 9% after reporting a 16% month-over-month growth in assets under custody (AUC) to $118.7 billion in February, marking its second consecutive month above the $100 billion mark. Bernstein initiated coverage on the company with an "outperform" rating, citing expectations of significant cryptocurrency revenue growth by 2025. Despite contending with a decline in active users, Robinhood has seen increased activity from retail traders and aims for 'profitable growth' in 2024, with its shares hitting a 2-year high on Thursday.