Jim Cramer on Robinhood: "The Question Is, Would You Buy It Now? And the Answer Is a Resounding Yes"

Robinhood Markets, Inc. (NASDAQ:HOOD) is one of the stocks Jim Cramer talked about. A caller asked if Cramer thinks the stock is going back to $145 or higher. He remarked:

Let’s upend this one… Let’s forget where we bought it and think where we think it could go to. If I could buy Robinhood at $80, I’d probably buy some here. If it went to $70, I’d buy it very big. So the question isn’t whether it’ll get back to where it was. The question is, would you buy it now? And the answer is a resounding yes.

Robinhood Markets, Inc. (NASDAQ:HOOD) operates a financial platform that allows users to trade stocks, ETFs, options, cryptocurrencies, and other assets. During the March 2 episode, Cramer said that the company owns “the future,” as he remarked:

Then there are the rest of the losers, and some are intriguing. Robinhood Markets is the sixth worst performing in S&P last month, down 24%, nearly 24, largely because it reported a miserable quarter in mid-February, and that was thanks to soft options and crypto trading. Stock fell 17% over the following two sessions. It’s only partially recovered. Now, long-term, I’m a believer in Robinhood. I think they’ve made themselves the preferred trading destination for young people, which means they own the future. But in the present, Robinhood has become totally hostage to crypto and options trading.

Don’t believe it’s hostage to equities and 401Ks. They’ve made a big push into predictions market too, and I’m not thrilled about the idea of Robinhood users having to decide whether to put $10 into NVIDIA or the Seahawks in the Super Bowl. If you want to bet on a tech-focused financial that appeals to young people, I prefer SoFi. But that said, I am turning very bullish on crypto… and Robinhood stock did rally almost three bucks today, I think, because of a turn in crypto. It may be bottoming. Others see it besides me.

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