Tom Lee Tells Investors to Avoid Robinhood Stock

Fundstrat strategist Tom Lee recently updated his top stock picks for 2026, adding names like JPMorgan while telling investors to avoid Robinhood. Lee suggested staying away from the brokerage platform despite its recent business growth and popularity among digital asset traders.

That warning immediately pushed back his own investment committee. Panelists pointed to Robinhood earning record second quarter revenue of 1.31 billion dollars and capturing massive net deposits. Analysts noted that the company has moved far beyond its early reputation by launching new infrastructure, including a layer 2 blockchain built on Arbitrum.

While direct crypto trading revenue slowed down, the new blockchain network already holds over 550 million dollars in total value locked. Tokenized stocks and stablecoins now drive heavy activity on the platform. Traders will watch closely to see if this new infrastructure can keep the stock moving higher despite the cautious outlook from Wall Street strategists.