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Yahoo Finance Names Robinhood Markets Stock Of The Year For 2024

by THEFUTURE.TEAM

January 4, 2025

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.

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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.

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MENA Tech Index Fell 4.6% In July, But Outperformed Global Tech

by THEFUTURE.TEAM

August 25, 2026

The MAGNiTT Tech Index fell 4.6% in July, marking its second consecutive monthly decline as technology stocks weakened across global markets. MGTI closed the month at 165.24, down 4.76% in 2026 and 24.88% from its January 2025 peak.

Despite the decline, the index remained 65.24% above its January 2023 inception level. Its lower correlation with global technology benchmarks also limited its exposure to the broader technology sell-off.

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Saudi Technology Stocks Lead The Decline

Saudi technology companies accounted for much of July’s decline. Nice One fell 21.3%, Jahez dropped 17.2%, and Rasan declined 15.7%, while Talabat gave back part of its second-quarter recovery.

Only three of the index’s 15 constituents ended July higher. MGTI also underperformed regional equity markets, with Saudi Arabia falling 1.89% and Dubai declining 2.69% during the month.

MGTI Shows Lower Correlation With Global Tech

July marked a reversal in global technology stocks, with MSCI EM IT falling 12.81% and MSCI ACWI IT declining 5.64%. MGTI’s lower correlation with those benchmarks limited the decline, with a correlation of 0.36 to MSCI EM IT.

The index also has limited exposure to semiconductors and large-cap AI companies that have driven much of the recent global technology rally. Its performance therefore differs from the broader global technology cycle.

MGTI Remains Above Its 2023 Level

MGTI has gained 65.24% since its January 2023 inception despite its recent declines. The index entered August down 4.76% for 2026 and nearly 25% below its January 2025 peak.

The MAGNiTT Tech Index July 2026 Monthly Update includes constituent-level performance, regional and global benchmark comparisons, and data on correlation, beta and volatility.