Robinhood hits 52-week high

Shares of online brokerage Robinhood Markets closed at their second-highest level ever on Monday, reaching a fresh 52-week high as tech shares outperformed the broader markets in a day of seesaw trading.

(Sherwood Media is an editorially independent subsidiary of Robinhood Markets Inc.)

Robinhood has been on a searing run that’s carried the shares up almost 100% since their April 8 low. The stock is now only 3% below its all-time high of $70.39, reached in August 2021 shortly after its IPO.

Wall Street’s earnings expectations for the coming quarters have grown since the company reported better-than-expected Q1 results in April.

But the stock price has risen even faster, with the market valuing Robinhood at a 48x multiple of expected earnings over the next 12 months, the highest level in a year.

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Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.