Why Robinhood Markets Stock Zoomed 38% Higher Last Month

Robinhood Markets (NASDAQ: HOOD) had a scorching hot September, with its stock rising 38% from beginning to end and trouncing the 3.5% rise of the S&P 500 index. We shouldn't find this too surprising, however, as the next-generation brokerage and fintech has had several strong months since the start of the year. Overall, its share price is up by a blistering 263% year to date (as of this writing). It's been a popular stock for some time, thanks to its restless search for new revenue streams and innovative ways of thinking about its business. Here's why it did particularly well last month.At the end of the first week of September, the first catalyst occurred to spark the Robinhood rally. S&P Dow Jones Indices, as part of its quarterly index rebalancing, tapped the company's stock to be a component of the S&P 500 index. It displaced casino operator Caesars Entertainment in the move, which became effective Sept. 22. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool