Morgan Stanley up to Robinwood: Current user liquidity is underestimated by the market

On 1 September, Morgan Stanley moved the Robinhood rating from "held" to "encumbered" and the target price from $124 to $150, with approximately 43 per cent of the increase compared to the closing price on Monday. According to analysts, the market has come to recognize Robinhood ' s accelerated introduction of new products and potential market size, but the increased commercialization capacity of its current user base remains undervalued. Morgan Stanley noted that some 28 million users of Robinwood constituted an important basis for growth and that new operations, such as forecasting markets, were increasing the size of single-user assets, trading activity and liquidity. Of these, market users are projected to be less than 2 million, but have contributed $156 million in revenue in the second quarter and have led users to other products. The analysts also considered that the Robinhod derivatives trading platform and the clearing house, Rothera, would further expand their distribution advantages and provide infrastructure and third-party income opportunities。