Robinhood Markets (HOOD)

The sleeper story is banking's 50%+ direct deposit attachment rate - that's primary account behavior happening in months, not the years it typically takes traditional banks. While everyone focuses on prediction markets hype, the real earnings multiplier is converting trading customers into full financial relationships. The binding constraint isn't customer demand but regulatory speed - they're ready to scale banking and international expansion but waiting on approvals. Vlad's most telling quote: 'Over 50% of our funded customers using banking enrolled in direct deposit' - that's stickiness that compounds. My view changes if banking attachment rates plateau below 60% or if AI monetization remains unquantified through Q2 2026.