Stock Track | Robinhood Surges as Crypto Euphoria Grips Markets After Trump Victory

Stock Track11-12

Shares of Robinhood Markets Inc. (HOOD) soared over 12% on Monday, riding a wave of optimism in the cryptocurrency market following the re-election of Donald Trump as U.S. President.

The trading platform's stock rallied amid a broader surge in crypto prices, fueled by expectations that the new Trump administration will adopt crypto-friendly policies and drive further mainstream adoption of digital assets.

Bitcoin, the world's largest cryptocurrency, breached the $82,000 mark for the first time, buoyed by Trump's promises to make the U.S. a "crypto capital of the planet" and embrace crypto-friendly regulations. As a platform offering crypto trading services, Robinhood is expected to benefit from increased trading volumes and user engagement in the booming crypto market.

Analysts at Morgan Stanley raised their price target on Robinhood, citing higher projected crypto transaction revenues and better net interest revenues under the new administration's anticipated crypto-supportive policies.

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