Robinhood's stock price has seen significant growth in 2024, increasing by 206% and pushing its market valuation to over $34 billion. The company has disrupted the financial industry with its commission-free approach to buying stocks and its popular gamification concept. Robinhood primarily generates revenue through Payment for Order Flow (PFOF) and has expanded into the subscription industry with Robinhood Gold. The company has a strong innovation record and has seen its annual revenue grow from $277 million to over $2.4 billion in the trailing twelve months. Analysts are optimistic about Robinhood's future, with revenue and profitability expected to continue increasing. However, there is a risk that if stocks and cryptocurrencies decline, so too will Robinhood's performance. The stock's chart indicates a bullish pennant pattern, suggesting further growth in 2024. The next point of reference is the 61.8% retracement point at $55.30. The downside risk is at $36, the 38.83% retracement point.



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