JMP Securities' Devin Ryan joins Yahoo Finance Live to discuss his 'outperform' rating and $28 price target for Robinhood stock as well as the outlook for the company and its path to profitability.
Robinhood investors look like they are taking a page out of Peter Lynch's playbook with some savvy buys.
Robinhood Markets (NASDAQ: HOOD) was once the envy of the stockbroking industry. During the pandemic, a mixture of lockdowns and stimulus checks gave these investors more time and money to focus on investing, and it drove a boom in Robinhood's business. Robinhood earns the majority of its revenue based on transaction volume through its controversial payment for order flow (PFOF) model.