Robinhood Markets, Inc. is expected to report strong financial results for the second quarter of 2024, driven by a significant increase in trading volumes for meme stocks and cryptocurrencies. The company's equity trading volumes surged by 82% in April and 76% in May year-over-year, while cryptocurrency trading volumes increased by 238% in May and 173% in April compared to the same periods last year. This surge can be attributed to the return of influential trader Keith Gill, known as "Roaring Kitty," and the approval of the first spot Bitcoin ETFs by the U.S. Securities and Exchange Commission.Analysts anticipate Robinhood's Q2 revenue to reach a record high of $643.34 million, a 32% increase from the previous year, with transaction-based revenues expected to rise by 51%. The company's earnings per share are projected to be 15 cents, up from 3 cents a year ago. Despite the optimism, some analysts caution that the current levels of trading activity may not be sustainable in the long term​.