Meme stocks are back and that is good news for
Robin Hood. The trading app said Wednesday, it
beat forecasts over the second quarter. Transaction based revenue
surged 69% to$327 million with profits also beating expectations
that saw its shares jump 2.6% in us. After
hours trade Robin Hood saw a jump in activity after
influencer Keith Gill aka roaring Kitty returned to social media
that reignited interest in stocks like video game retailer,
gamestop, which had been at the heart of the
2021 meme stock craze crypto offered a big boost too
. Bitcoin soared over the first half of the year
after us, regulators approved exchange traded funds handling the
virtual currency since being at the heart of the original
meme stock frenzy. Robin Hood has struggled with uneven
trading activity. It's responding by building a suite of
different products for clients on Wednesday. It also teased
the launch of a desktop version of its popular trading
application. Executives shrugged off worries about a possible US
recession. Chief Financial Officer Jason Warnock said the firm
was optimistic. It would do well in any market 00:01:18.799 --> scenario