Public Keys: High Hopes for HOOD, Custody Battle for Coinbase, and Analysts' Favorite Metric
Robinhood and MARA Holdings ended the week positively in the volatile markets, with Robinhood's share price rising 5.8% to around $42.75, despite a target price reduction by Morgan Stanley. The platform's potential for long-term growth is recognized, although retail investors may face economic challenges. Meanwhile, MARA Holdings, also performing well with a 4.5% increase, is progressing on its Ohio data center to lower mining costs. Additionally, Coinbase faces new competition as BlackRock appointed Anchorage Digital as a custodian for its Bitcoin and Ethereum ETFs, highlighting Coinbase's reliance on custodial fees, which remain a small fraction of its overall revenue. Analysts caution that while the upcoming GDP report is heavily scrutinized, it primarily serves political interests and may not accurately reflect economic health, with key indicators suggesting ongoing economic challenges. ARK Invest's Cathie Wood remains optimistic about long-term productivity driven by technological innovations despite current economic weaknesses.
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