Stock Track | Robinhood Soars as Crypto Euphoria Grips Markets After Trump Re-election

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Shares of popular trading platform Robinhood Markets Inc. (HOOD) surged more than 5% on Friday, riding a wave of optimism in the cryptocurrency market following the re-election of Donald Trump as US President.

The rally in Robinhood's stock price was fueled by rising expectations that the new Trump administration will adopt crypto-friendly policies and drive further mainstream adoption of digital assets. During his campaign, Trump promised to make the US a "crypto capital of the planet" and embrace crypto-supportive regulations.

As a major platform offering crypto trading services, Robinhood is expected to benefit from increased trading volumes and user engagement in the booming cryptocurrency market. Bitcoin, the world's largest cryptocurrency, breached the $82,000 mark for the first time on Friday, buoyed by the crypto-optimistic sentiment.

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