Jim Cramer recently discussed President-elect Donald Trump’s Treasury pick and highlighted his enthusiasm for the stock market. He also talked about Scott Bessent’s possible 3-3-3 plan to bring down the budget deficit, produce 3 million barrels of oil per day, and increase economic growth.
Cramer expressed skepticism about Elon Musk’s efficiency plans in the upcoming Trump administration. However, he showed enthusiasm for Robinhood Markets Inc (NASDAQ:HOOD), citing its success in attracting younger Americans who are interested in investing. The company’s significant growth, including 2.2 million Robinhood Gold subscribers and an all-time high of $2.2 billion, has driven its stock price up.
Robinhood’s CFO, Jason Warnick, highlighted the company’s unique approach to generating revenue through a subscription fee for its platform. The company is also working on increasing the rollout of its premium card program, which offers 3% rewards to customers. Recently, Robinhood expanded its reach by acquiring TradePMR, a firm specializing in brokerage and custodian services for Registered Investment Advisors.
The stock’s estimated forward revenue growth stands at 26.79% year-over-year, nearly 393.55% above the sector median of 5.43%. As of Q2 2024, Robinhood ranked 7th on Insider Monkey’s list of stocks Jim Cramer is talking about as heading into December.
While Robinhood’s potential is undeniable, our conviction lies in the belief that under-the-radar AI stocks hold greater promise for delivering higher returns within a shorter timeframe. If you’re looking for an AI stock with promising potential and a price-to-earnings ratio less than 5 times its earnings, check out our report on the cheapest AI stock.
Source: https://www.insidermonkey.com/blog/jim-cramers-bullish-take-on-robinhood-hood-is-it-the-future-of-investing-1400012