Fundstrat’s Tom Lee added JPMorgan and Arista Networks to his core stock ideas for 2026 but identified Robinhood as a stock to avoid, prompting immediate opposition from his Investment Committee. Kevin Simpson, founder and chief investment officer of Capital Wealth Planning, said, "I couldn’t disagree more" on CNBC, citing Robinhood’s record second-quarter revenue of $1.31 billion, up 32% year-over-year, diluted earnings per share of $0.62, up 48%, and $22 billion in net deposits, up 28% on an annualized basis. Robinhood’s crypto transaction revenue fell 38% to $100 million, but the company is shifting its crypto strategy toward infrastructure, including Robinhood Chain, a layer-2 blockchain (a secondary network built to improve blockchain capacity) launched in July on Arbitrum. The chain’s total value locked has exceeded $550 million, with tokenized stocks and other real-world assets representing about a quarter and stablecoins accounting for a larger share. Robinhood shares traded near $96, valuing the company at $86 billion.