HOOD - Robinhood Markets

Ryan mentions Robinhood as a key beneficiary of agentic trading, with potential for massive volume increases from AI agents. He notes the stock was overvalued at $150 but sees significant opportunity when it traded below $70, suggesting current levels are closer to the lows.

On pace for best quarter ever based on website traffic data. May was second best month ever. Options activity ticking up (high margin), new IPO markets bringing in new investors, Trump accounts in June. Up 1.7% in overnight markets.

Host is a shareholder. Excited about Rother event contracts platform launch (World Cup trading), potential for higher margins by cutting out Kalshi, and Trump accounts performing well. Notes earnings are sporadic but innovation continues.

Ranked 12th/13th on iPhone finance watch list - very high ranking. Fintech businesses keep getting bigger and bigger.

Likes the long-term story and consolidation off lows, but needs more time to absorb supply and tighten up before buying.

Up over 10% on Trump Accounts growth. Trump Accounts is the fastest growing non-AI app on the app store, promoted by both Robinhood and the White House. Potential to become a multigenerational business as customers fund accounts with US dollars and stay on the platform long-term.

Host loves Hood long-term, citing generational wealth transfer as a tailwind. Notes Hood is up 9.4% on the day, potentially on Trump accounts news. Acknowledges cyclicality but sees it as a major beneficiary of retail investor growth.

Host continues to hold Robinhood without selling a share. He's excited about the new AI agent feature for delegating investing and credit card spending, which could help push into personal loans. He sees crypto and rate cuts as tailwinds.

Host notes Robinhood's WonderFi acquisition (Canadian crypto business) got regulatory approval. Sees potential upside if crypto turns around, but crypto is currently not in vogue.

While not a direct stock recommendation, the entire conversation is bullish on Robinhood's strategic direction—private market expansion, AI integration, strong customer growth (27M customers, $350B in assets), profitability, and S&P 500 status. The CFO expresses deep confidence in the company's mission and trajectory. The host also expresses excitement about the company's future.