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Robinhood's Soaring? Or Are We Just Drinking the Kool-Aid?
Okay, lemme get this straight. Robinhood, the app that gamified trading and arguably fueled the meme stock craze, is now supposedly crushing it? Their stock surged, revenue is up, and everyone's patting them on the back? Give me a freakin' break.
The article says their stock "surged by 4.15%, closing at $142.48". Okay, cool. But let's not forget where they were. I remember when HOOD was the laughingstock of Wall Street. Remember the GameStop fiasco? Remember the accusations of screwing over retail investors? Now they're the ones raking in the dough?
And "record third-quarter revenue of $1.27 billion"? Seriously? What's driving this? "Strong crypto, options, and equities trading." Translation: people are still gambling their stimulus checks and hoping to get rich quick. It's not exactly a sign of a healthy, stable market, is it? It's more like a casino with a user-friendly app. I mean, I'm all for making money, but this feels...dirty.
Duolingo's Drop: Learning Curve or Just a Fall From Grace?
Then you got Duolingo. They beat revenue estimates, but their stock still tanked after hours. Why? "Concerns over slower sequential user growth." Ah, so the magic owl isn't as addictive as everyone thought.
Look, I get it. Learning a new language is hard. It takes time, effort, and a whole lotta dedication. But Duolingo made it seem so easy, so fun...like a game. But maybe people are realizing that swiping through flashcards ain't gonna make you fluent in Spanish. Maybe they're going back to real classes, real teachers, and, you know, actual human interaction. What a concept!
Offcourse, the article mentions Qualcomm and Applovin are doing well, but honestly, who cares? They're not as fun to rip on. And Snap...well, Snap is Snap. They lost less money than expected, and their stock jumped up. Good for them?
The Analysts Are Always Right... Until They're Wrong
And then there's the analyst upgrades. Piper Sandler, Bank of America, Needham & Company LLC... they're all upping their price targets for Robinhood. "Buy!" they scream. "Mkt Outperform!" they shout. But let's be real, these are the same people who told us to buy Pets.com back in the day. They're always chasing the hype, never the substance.
Oh, and insiders are selling shares? Steven M. Quirk dumped a bunch of stock for over $6 million. Daniel Martin Gallagher, Jr. cashed out for $3.7 million. Nothing to see here, folks! Just a vote of confidence in the company's long-term prospects.
...Or maybe they know something we don't.