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Robinhood Markets Stock Shows Rising Price Performance With 83 RS Rating
A favorite meme stock, Robinhood Markets (HOOD) had its Relative Strength (RS) Rating upgraded from 78 to 83 Tuesday.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of other stocks on the major indexes.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 as they begin their biggest climbs.
Robinhood Markets Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets has an expected earnings growth rate of 47% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 3.1% over the past 30 days. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.