The meme stock fad that swept through Wall Street a few years ago was powered in part by trading activity on Robinhood Markets (NASDAQ: HOOD), which offers investment and financial services through its online platform.
The stock may have raised doubts among long-term investors at the time, but its outlook has since improved. Over the past few years, Robinhood has undergone a significant transformation, and we are now seeing the results of this progress. The company’s shares are up by a whopping 312% over the trailing 12-month period.
Some might wonder whether it’s still worth it to invest in Robinhood after this incredible run. Let’s look deeper into the business and determine whether there is still some upside left for the company.