Jim Cramer Says That He Has Been "Big, Big Believer in Robinhood for a Very Long Time"

Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the stocks that Jim Cramer shed light on. A caller asked if Cramer sees the company continuing to grow over the next few years. Here’s what he had to say:

“Yeah, look, it’s become kind of a meme stock, but you know… We like Vlad, we’ve liked him ever since he was a kid. And I’ve been a big, big believer in Robinhood for a very long time. I’m not changing my view.”

Robinhood (NASDAQ:HOOD) provides a financial platform where users can trade stocks, ETFs, options, gold, and cryptocurrencies, along with services like margin investing, retirement accounts, and 24/7 trading. The company also provides educational tools, spending accounts, credit cards, and a digital currency marketplace for buying and selling major cryptocurrencies. On June 30, while recounting stocks that attract younger investors, Cramer commented:

“Take the stock of Robinhood. Boy, is that ever their stock, right? Skyrocketed more than 10 bucks today to an all-time high. Why? Because it’s using blockchain to allow its users to trade stocks and private companies. The move strikes most of the seasoned players in this market as absurd, maybe even boring, but this same development strikes younger and fresher-faced buyers as kind of a clever financial engineering that should be encouraged. They’re not cynical about it. So what do they do? They go nuts buying the darn thing. No price is too high. And guess what? They’ll be back tomorrow too.”

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Disclosure: None. This article is originally published at Insider Monkey.