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Yahoo Finance Names Robinhood Markets Stock Of The Year For 2024

Yahoo Finance has named Robinhood Markets (HOOD) the stock of the year for 2024. The company, led by Vlad Tenev, saw its stock surge over 190% after boosting its profitability and expanding its portfolio.

Key Facts

According to senior analyst Patrick Molly from Piper Sandler, Robinhood Markets’ growth is just beginning. The reason? 75% of Robinhood’s customer base consists of young people who are more inclined to try new products, driving further growth for the company. One of the key drivers of growth over the past year has been Robinhood’s new web-based trading platform, which opens access to 50% of the retail market that was previously unavailable to users.

Key Number

$32.94 billion — Robinhood’s market capitalization. The company’s shares are currently trading at $37.26.

Key Story

Vlad Tenev has become one of the billionaires whose wealth soared following Donald Trump’s election victory. Robinhood’s stock rose nearly 20% after the election results, boosting Tenev’s wealth by almost $300 million, reaching $1.9 billion. According to Forbes, his current net worth stands at $2.3 billion.

Robinhood has introduced several new products and launched margin trading in the UK in 2024. The company also debuted a securities lending product in the UK last September, allowing users to earn passive income from their stock holdings. Additionally, Robinhood began offering EU customers the ability to transfer cryptocurrencies to and from its platform.

What is Robinhood?

Robinhood is an online brokerage that offers commission-free services, allowing users to buy and sell stocks, cryptocurrencies, and other assets. The company was founded in 2013 by Vlad Tenev and Baiju Bhatt with the mission to democratize finance, making financial services more accessible to the general public.

What’s Next?

In June, Robinhood announced its acquisition of Luxembourg-based crypto platform Bitstamp to leverage the company’s exchange technology and expand its global presence. The deal, valued at around $200 million, is expected to close in the first half of 2025.

Elevating Infant Nutrition: Nara Organics Unveils Premium Organic Formula

The Origins Of A Vision

When Esther Hallam welcomed her daughter Nara into the world, she immediately confronted a formidable challenge: identifying a trustworthy, high-quality organic infant formula. In a U.S. market dominated by cost-cutting practices—such as the use of skim milk supplemented with oils to meet nutritional standards—Hallam observed a disconnect between established availability and uncompromised quality. Research linking corn syrup to obesity and palm oil to reduced calcium absorption only reinforced her resolve to seek a safer alternative.

Redefining Industry Standards

Frustrated by the limitations of existing options, Hallam devoted seven years to developing an organic, whole-milk formula with the expertise of leading scientists and pediatric nutritionists. Nara Organics distinguishes itself by offering the highest percentage of milk fat of any formula on the U.S. market and a significantly reduced reliance on plant-based oils. The carefully selected blend of organic sunflower, coconut, and rapeseed oils not only meets nutritional needs but also minimizes potential health risks inherent to additives like palm oil, soy, and corn syrup.

Manufacturing Excellence In Germany

Rather than manufacturing domestically—a decision influenced by previous concerns over Cronobacter contamination in American facilities—Nara Organics leverages the advanced, oxygen-controlled production environment of a German facility, widely regarded as the birthplace of powdered infant formula. Chief Marketing Officer Meika Hollender detailed that their unique manufacturing process, which minimizes oxygen exposure during can sealing, substantially extends shelf life and preserves formula integrity, setting a new standard in infant nutrition.

Strategic Investment And Market Impact

Backed by $32 million from prominent investors including AlleyCorp, BBG Ventures, Corazon Ventures, Gingerbread Capital, and Torch Capital, Nara Organics has also garnered support from high-profile celebrity investors such as Serena Williams, Gina Rodriguez, and Nicky Hilton. This robust investment positions the company at the vanguard of an organic infant formula market projected to grow from $20.7 billion in 2023 to $37 billion by 2032.

Enhancing Consumer Accessibility And Community Commitment

Nara Organics is available for purchase directly via its website, subscription models, and a dedicated mobile app that assists parents in tracking essential aspects of infant care. To underscore its commitment to community well-being, the company is donating over 1,400 cans of formula to the Good+ Foundation, which strives to alleviate multi-generational poverty by providing essential services to under-resourced families.

By merging state-of-the-art production with a commitment to organic, high-quality ingredients, Nara Organics is poised to redefine the benchmarks of infant nutrition in a competitive, evolving market.

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