Jim Cramer Calls RobinHood One of the "Best of the Lot"

Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the stocks that Jim Cramer recently discussed. Cramer considers it among the stocks that are “representatives of what’s been going on in this market.” He remarked:

“PARC exhausts me. I’m talking about my handy acronym for Palantir, AppLovin, Robinhood, and Coinbase. These are four of the many stocks that seem to have no quit in them, even if they all pulled back hard into the close today, giving us a rare moment to evaluate them on relative weakness. It’s better for me to talk about these stocks on a down day so you can get a discount if you were so inclined…

Now, even though I say PARC, these four stocks are just representatives of what’s been going on in this market. They’re actually the best of the lot. They have earnings. They have analysts following them who come up with estimates. Although judging by the way people have been buying these names, neither of them, those things like estimates and analysts, seems to matter at all…

While flying cars and experimental batteries don’t yet make money, PARC does, lots of it, oodles. Palantir, AppLovin and Robinhood, and Coinbase, they’re all pretty darn profitable. By comparison, during the dot-com era, most of these red-hot companies had little to no revenues and were actually running out of money, constantly tapping the public markets, at the same time that insiders were furiously [sell, sell, sell] their own stock because they knew there was no justification for these sky-high valuations. They got out.”

Robinhood (NASDAQ:HOOD) provides a financial platform that enables users to trade a wide range of assets, access investing tools, and use features like fractional trading, retirement plans, and crypto wallets. Additionally, the company offers educational resources, newsfeeds, and a digital currency marketplace. During the July 8 episode, Cramer noted that he has been a “big believer in Robinhood” for a long time, as he commented:

“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.”

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