Mizuho says Robinhood single-stock perps could support HOOD shares
Robinhood's planned expansion into perpetual futures is drawing fresh attention as analysts assess whether the product can add a new growth lever for the trading platform. A Mizuho survey of more than 600 active Robinhood users suggests demand for single-stock perpetual futures could be strong, while indicating limited overlap with existing equity trading.
Highlights
- Mizuho reiterates its Outperform rating and $140 price target on HOOD, citing a survey where 94% of Robinhood users expressed interest in trading single-stock perpetual futures.
- Survey analysis by Mizuho shows 84% of respondents would use mostly or exclusively new money for single-stock perps, minimizing cannibalization risk for Robinhood.
- Robinhood signals perpetual futures trading may launch for U.S. users in coming months, but management states plans are unconfirmed as they await SEC guidance on tokenized stocks.
Survey signals product demand
As reported by The Block, Mizuho reiterates its Outperform rating and $140 price target on HOOD after finding that 94% of surveyed active Robinhood users would be likely or very likely to trade single-stock perpetual futures if the contracts become available.The analysts say cannibalization of existing equity trading appears limited, with 84% of respondents indicating they would use mostly or exclusively new money to trade the product. Dan Dolev, managing director at Mizuho, writes in a Wednesday note that the firm views that setup as a potential strong positive for Robinhood shares.
Launch timing and industry backdrop
Robinhood says on Sept. 29 that it plans to launch perpetual futures trading for U.S. users in the coming months, alongside 24/7 trading for select U.S. equities. However, Johann Kerbrat, Robinhood's senior vice president and general manager of crypto and international, recently tells The Block that the company has no single-stock perpetual plans to announce and is still working through the SEC's latest innovation exemption on tokenized stocks.Mizuho says timing remains uncertain, but argues it is plausible the product could arrive over the medium term. The firm also points to Coinbase's September filing to list perpetual futures tied to large-cap U.S. stocks as further evidence of broader industry interest in the category.
Our earlier coverage of Hainan Rubber’s refinancing plans detailed its proposed subordinated perpetual sustainable securities to be issued via its majority-owned unit Halcyon Agri. We outlined how the notes’ junior ranking and coupon-deferral features shaped the rating outcome, alongside key balance-sheet and liquidity metrics that frame the company’s funding profile.
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