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Is Robinhood Stock a Buy?

TheMotleyFool

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Robinhood's (NASDAQ: HOOD) stock has rallied roughly 60% over the past 12 months, but it still trades at less than half of its initial public offering (IPO) price of $38 from July 2021. The online brokerage initially gained a lot of attention during the buying frenzy in growth and meme stocks, but it lost its luster as interest rates rose and its growth cooled off.

So should you consider buying Robinhood as a turnaround play? Or will the macro, regulatory, and competitive challenges weigh down its stock and keep it far below its IPO price?

Image source: Getty Images.

Source Fool.com

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