Jim Cramer expresses concern about Robinhood (NASDAQ: HOOD), noting that its stock has a P/E ratio of up to 30 and is too closely linked to the highly volatile cryptocurrency business, causing its stock price movement to resemble that of Bitcoin. Given Bitcoin's recent decline and the weakening of the US dollar, Cramer questions Bitcoin's role as a store of value or an inflation hedge, and hints that Robinhood may hold "toxic" and unreliable assets.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Jim Cramer expresses concern about Robinhood (NASDAQ: HOOD), noting that its stock has a P/E ratio of up to 30 and is too closely linked to the highly volatile cryptocurrency business, causing its stock price movement to resemble that of Bitcoin. Given Bitcoin's recent decline and the weakening of the US dollar, Cramer questions Bitcoin's role as a store of value or an inflation hedge, and hints that Robinhood may hold "toxic" and unreliable assets.