Mark Carney signals ‘the imperative of making Canada an energy superpower' on eve of first ministers' meeting
As Prime Minister Mark Carney meets Monday with the premiers, he wants to fast-track 'nation-building' infrastructure projects and eliminate interprovincial trade barriers to strengthen a Canadian economy under attack from U.S. President Donald Trump.
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Globe and Mail
36 minutes ago
- Globe and Mail
Robinhood Markets Hits 52-Week High: Should You Buy the Stock Now?
Robinhood Markets, Inc. HOOD touched a 52-week high of $68.20 during yesterday's trading session. Over the past three months, the stock has gained 47.1%, outperforming the industry, the Zacks Finance Sector, the S&P 500 index and its close peers — The Charles Schwab Corporation SCHW and LPL Financial Holdings Inc. LPLA. Does the HOOD stock have more upside left despite hitting a 52-week high? Let us find out. Factors Likely to Drive Robinhood Stock Volatility Amid Tariff Policy Concerns to Drive Revenues: On Feb. 13, President Donald Trump announced a plan for 'reciprocal' tariffs to reduce the fiscal trade deficit. This move brought concerns regarding potential tariff wars, leading to higher market volatility. Though the situation has pacified to some extent in light of a pause on tariffs as countries negotiate, the uncertainty concerns continue to linger surrounding the impact of tariff policies. This is expected to contribute to the increase in Robinhood's transaction-based revenues, due to heightened volatility and increased market participation. Robinhood's total net revenues have witnessed a compound annual growth rate (CAGR) of 60.4% over the past five years (2019-2024), with transaction-based revenues recording a CAGR of 57.3%. The momentum continued for both metrics in the first quarter of 2025. Given the company's focus on transaction-based revenues combined with the commission-free model and ongoing volatility in the markets, its revenues are likely to move higher. Further, the Trump administration has been favorable to cryptocurrency as regulators have been easing norms and regulations for firms to venture into digital assets. Moreover, in March 2025, Trump signed an executive order to establish a strategic crypto reserve. This will likely support Robinhood's cryptocurrency revenues as new investors will be attracted to cryptocurrencies to boost their returns and leverage the benefit of diversification as an asset class as well. In the first three months of 2025, the company's cryptocurrency revenues were $252 million, constituting 27.2% of total net revenues. Over five years (2019-2024), the metric witnessed a CAGR of 140.3%. Robinhood acquired Bitstamp yesterday. Bitstamp's core spot exchange, which features more than 85 tradable assets, coupled with its popularity in Europe and Asia, will significantly enhance Robinhood's crypto offerings. Also, in May 2025, Robinhood agreed to acquire WonderFi, a leader in digital asset products and services in Canada. This move aims to capitalize on rising crypto demand among Canada's investors. Currently, Robinhood offers trading in more than 30 cryptocurrencies on its app. Business Diversification Efforts: Robinhood became extremely popular among younger generations, riding on the meme stock wave in early 2021. Nonetheless, since its IPO in July 2021, the company has taken several steps to evolve from merely being a brokerage firm to a more mature and diversified entity, striving to become a one-stop shop for building generational wealth. Last week, the company rolled out Robinhood Legend, a browser-based desktop trading platform, in the United Kingdom, after launching the same in the United States in October 2024. In March 2025, Robinhood launched a prediction markets hub. Further, in the same month, the company launched Robinhood Strategies, Robinhood Banking and Robinhood Cortex, a suite of new features, to boost the wealth management offerings for its Robinhood Gold members. In January 2025, the company launched Futures, while in December 2024, it introduced the Tax Lots feature for investors. In February 2025, Robinhood acquired TradePMR to expand into the registered investment advisers custody market. In July 2024, Robinhood acquired Pluto Capital Inc. With the integration of the latter's advanced capabilities, the former is set to revolutionize the investment experience for its users. Additionally, the company launched its first-ever credit card in March 2024. Thus, rapid product innovations through vertical integration will likely expand HOOD's client base, enabling greater operating leverage and paving the way for sustained profitability. Similarly, in April 2025, Schwab introduced Alternative Investments Select, a new alternative investments platform, available to eligible retail clients having more than $5 million in household assets with the platform. HOOD Rewards Shareholders: In April, Robinhood announced an additional share buyback plan worth $500 million. This plan supplemented the previous authorization of $1 billion announced in May 2024, extending the total authorization to $1.5 billion. While the plan does not have an expiration date, the company expects to buy back shares within roughly two years. As of April 30, 2025, roughly $921 million worth of authorization remained available for repurchase. Robinhood is on solid ground, with significant cash reserves. As of March 31, 2025, it reported cash and cash equivalents of $4.4 billion. Bullish Analyst Sentiments Over the past month, the Zacks Consensus Estimate for earnings of $1.22 and $1.47 per share for 2025 and 2026, respectively, moved 1.7% and 3.5% upward. The projected figures imply growth of 11.9% for 2025 and 20.5% for 2026. Estimate Revision Trend Robinhood's Regulatory Headwinds Robinhood operates in a highly regulated industry and falls under the scrutiny of numerous authorities. This exposes the company to regulatory risks, resulting in hefty fines and restrictions that may affect its profitability. In March 2025, Robinhood's units agreed to pay $26 million to settle Financial Industry Regulatory Authority allegations for failing to respond to red flags about potential misconduct and not verifying the identities of thousands of customers. In January 2025, the company agreed to pay a $45 million fine for violating more than 10 securities law provisions. Previously, in September 2024, the company faced a $3.9 million penalty to settle crypto withdrawal failures. In 2023, the company faced defeat in proceedings at the Massachusetts Supreme Judicial Court regarding the supervision of product features and marketing strategies and paid a fine of $7.5 million. These hefty fines have made investors cautious about Robinhood's operations and the sufficient internal control procedures. Likewise, in January 2025, LPL Financial agreed to pay a civil penalty of $18 million and implement improvements to its anti-money laundering ('AML') policies and procedures. The Securities and Exchange Commission accused LPL Financial of numerous failures regarding its AML program. Parting Thoughts on HOOD Stock Solid revenue growth, organic and inorganic expansion initiatives to diversify the business and a strong balance sheet will aid Robinhood's financials. Moreover, tariff policy concerns and easier regulations for digital asset businesses complement the company's efforts to improve its top line through product diversification. However, HOOD's regulatory headwinds and rising operating expenses are major concerns. Further, foraying into the banking business amid intense competition keeps investors cautious about the company's success. Hence, investors should keep an eye on how Robinhood confronts the challenging backdrop. HOOD stock is a cautious bet for investors now. Those who already own it can hold for now for a robust long-term return. HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months. Free: See Our Top Stock And 4 Runners Up The Charles Schwab Corporation (SCHW): Free Stock Analysis Report LPL Financial Holdings Inc. (LPLA): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
Toronto Sun
an hour ago
- Toronto Sun
Border mayors, industry group call on feds to save duty free stores
An empty parking lot is shown at the Tunnel Duty Free Shop in Windsor on Wednesday, May 7, 2025. Photo by DAN JANISSE / Postmedia OTTAWA — A common sight at land border crossings, challenging economic times may soon spell the end of Canada's duty free shops. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account And that end could be mere weeks away if action isn't taken, said Barbara Barrett, executive director of the Frontier Duty Free Association. 'These stores, and the communities they support, have endured a long road through the pandemic and years of uncertainty, and financial loss,' she said during a Tuesday press conference on Parliament Hill. Barrett, joined by the mayors of Sarnia and Windsor, released an open letter to the government calling for action to save Canada's land border duty free shops, signed by 15 mayors of Canadian border cities and towns. 'The strain in the U.S.-Canada relationship has triggered an immediate and dramatic drop in cross-border traffic,' Barrett told reporters. 'As soon as tensions began between our two countries, our industry saw the impact right away.' Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Customer numbers fell almost overnight, she said, and the sharp decline has continued — bad news for an industry largely consisting of independent and family-run businesses that cater exclusively to cross-border traffic. In their letter to Prime Minister Mark Carney and Finance Minister Francois-Philippe Champagne, the association is asking for government support via Export Development Canada, the Business Development Bank of Canada and the Canada Small Business Financing Program, government reaffirmation of the export status of land border duty free stores, and aligning Canada's excise tax policies to level the playing field with their American counterparts. Some mayors who signed the letter include Sue McKortoff of Osoyoos, B.C., Wayne Redekop of Fort Erie, Justin Towndale of Cornwall and Woodstock, Man.'s Trina Jones. This advertisement has not loaded yet, but your article continues below. Read More 'This is a crisis,' Sarnia Mayor Mike Bradley told the press conference. 'There are 3,000 jobs at stake right across the country at duty free stores.' Bradley said duty free stores are still recovering from the two-year border shutdowns during the COVID-19 pandemic, which he said had a dramatic impact. Windsor Mayor Drew Dilkens — whose city is home to Canada's busiest land border crossing — said the impact is coming from the drop in discretionary cross-border travel sparked by opposition to U.S. President Donald Trump's trade war against Canada. 'Sales in the Windsor region are down by 40% — these are small, independently-owned businesses who've just come back from COVID, we're trying to get our traffic back to pre-COVID levels. We're not quite there yet, and now we've got another hit these businesses,' he said, adding what's happening in his city and Sarnia is reflected in border towns across Canada. bpassifiume@ X: @bryanpassifiume World Canada Wrestling Sunshine Girls Olympics
Global News
an hour ago
- Global News
Travel to U.S. from Canada drops again as domestic trips rise
Domestic travel is increasing at Canada's airports, new Statistics Canada travel data shows, while the number of people travelling by air to the U.S. dropped in April. The data released Monday looked at the total number of passengers who passed through pre-board security screening at Canada's eight largest airports, finding a total of 4.5 million people made their way through those checkpoints, a 3.6 per cent overall increase from April last year. However, the number of those travelling to the U.S. dropped — again — as the U.S. trade war continues. The agency found that of these travellers, 1.1 million were those heading to the U.S., also known as 'transborder' traffic. That figure was 5.8 per cent lower than the number seen in the same month last year. Story continues below advertisement Statistics Canada notes it's also the third consecutive month of year-over-year decreases to the U.S., and compared with pre-pandemic levels in April 2019, transborder passenger counts were down 12.5 per cent. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Monday's newly released data encompasses both Canadian and non-Canadian screened residents. 2:10 Canadians cancelling U.S. trips amid Donald Trump's tariff threats In April of this year, the data shows air travellers to the U.S. accounted for 25.5 per cent of the total number of screened passengers, but that number is a drop from 28.1 per cent last year. When it comes to this type of transborder traffic, the agency notes most is concentrated at the country's four largest airports — Toronto, Vancouver, Montreal and Calgary, which represent more than 90 per cent of all traffic to the U.S. The data shows that each airport saw drops in screened passengers heading to the U.S.: Toronto Pearson International dropped by 5.3 per cent, Calgary International decreased by 1.6 per cent, Vancouver fell by 7.6 per cent and Pierre Elliott Trudeau International saw a 10 per cent decrease. Story continues below advertisement Meanwhile, the number of people choosing instead to travel to other Canadian cities is up, with two million people travelling domestically, an increase of 7.4 per cent compared with last year and a 1.5 per cent rise from April 2019. There's also been an increase of 7.1 per cent in people choosing to travel to international destinations outside the U.S., with 1.4 million heading abroad. Statistics Canada's data shows the number of those travelling internationally is substantially higher than in April 2019 as well, jumping 19 per cent.
