How are things in the Hood ($HOOD)? (March 30, 2022)
HOOD
Let’s look at Robinhood ( NASDAQ: HOOD ), steal from the poor and make everybody rich, that seems to be the founding theme for this company.
What I am looking at here, though, is a stock that gives us a pretty good idea that this is the bottom. Yesterday the company announces that they are going to, I don’t know the exact date but they are going to be expanding trading hours. I have never had a Robinhood ( NASDAQ: HOOD ) app, never will, but I think now it is just market hours, 9:30-4:00 EST. They are going to be expanding that to premarket and after-market trading so that their total number of trading hours during the week is 13.
For people that like to trade on their iPhones with Robinhood ( NASDAQ: HOOD ), that’s a pretty big deal. Because you get to get more confetti, you get to gamble a little bit more and so that is a cool thing to be able to go 13 hours as opposed to whatever it is now. But they are also going for 24/7. I don’t know when that is going to happen, they don’t either, otherwise, they would tell you, but that is kind of what they are planning on doing.
And so with that, with respect to the expected revenue of the company, trust me, that is going to put a big jump in it. And so this move yesterday was over 100 million shares, that is kind of a lot, and then today we didn’t get a continuation. That’s okay (I would actually prefer, the stock doesn’t actually care what I would prefer but I will tell you), I would actually prefer to see this stock trade sideways for a bit longer.
It wouldn’t break my heart to see it do something like this; tomorrow is Thursday the following day is, let’s all say it together, Friday. And then next week, that’s when we could see a continuation move. I have no clue when that will happen but here’s my bet, my bet is that this stock will not will be going back down here, this is too much volume. There is too much volume right here, even though it is a 24 percent move.
I think that your trade is this, if the stock runs up above 16.50, 16.49 was yesterday’s high, if it runs up above 16.50 I think you’ve got blue sky. I think you have got plenty of room for this stock to move. I wouldn’t anticipate it because the risk is too high. It is still volatile on a percentage basis it just doesn’t look like it in this chart. But if you just wait for 16.50 before you buy you are going to be good.
Because if it runs up there then you are more than likely to make some money. You are more than likely to do real good. But if it doesn’t break 16.50, well guess what? You are just sitting there wallowing in the escape hatch at the “Shawshank Redemption” for a while because you are not making money. And how do I know you are not making money? Because until the stock runs above 16.50 you’re in jail.
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