Bank of America Securities reiterated its "Buy" rating on Robinhood (HOOD.US) on Thursday. Analyst Craig Siegenthaler gave high praise to several recent product launches by the fintech company. He particularly commended Robinhood's new social media platform, which will allow users to post trading information, discuss trading strategies, track trader performance, and follow hedge funds, politicians, and insiders. He described the network as a "game changer."

The analyst stated: "We view this as a powerful customer engagement mechanism that could support future net new user additions and account growth by attracting customers from external social media platforms like Reddit (RDDT.US) and X."

Robinhood Social is set to launch to select U.S. customers in early next year.

As of Thursday's market close, Robinhood shares rose 0.25% to $117.75. The stock has gained over 200% year-to-date.