Robinhood's crypto volumes better than expected in December, Piper Sandler says
** Piper Sandler says retail trading platform Robinhood's stronger than expected crypto volumes post-election was the most surprising data point of December trading volumes** HOOD on Tuesday announced December to-date crypto trading volumes of $28 bln, a 333.1% jump compared with a year ago** Brokerage says that the volumes were more than double its previous estimate and declined just 20% from elevated November figures** Bitcoin more than doubled in 2024 and hit the $100,000 milestone last month, driven by the U.S. markets regulator's approval of exchange traded funds tied to its spot price and optimism over easing regulatory hurdles with Donald Trump set to return to the White House** Piper Sandler raises its Q4 2024 EPS estimate for HOOD to 47 cents/share from 33 cents/share due to the volumes data** HOOD stock soared 192.5% in 2024