Movement Alert｜Robinhood Rises 6.28% in Regular Trading, Closed-End Fund Expansion and On-Chain Revenue Milestone Boost Sentiment

Market Focus08-21 21:32

On August 21, Robinhood rose 6.28% in regular trading, trading at $100.23 per share with turnover of $453 million, marking a notable acceleration from the 3.13% pre-market gain earlier in the session.

The rally is driven by multiple catalysts. Robinhood's second closed-end fund, RVII, completed its IPO pricing on August 14, issuing 8 million shares at $25 per share for a total fund size of $225.5 million, with potential expansion to $255.5 million if underwriters exercise their full option. Goldman Sachs served as lead bookrunner. CFO Shiv Verma indicated the company will accelerate the cadence of publicly traded closed-end fund launches, enabling retail investors to access private market opportunities more conveniently.

Additionally, Robinhood Chain has accumulated $5 million in fee revenue within just over one month of launch, demonstrating strong early traction for its on-chain infrastructure business. CEO Vlad Tenev recently stated the company is at the beginning of a tokenization supercycle that will transform the entire financial system. Goldman Sachs raised its target price on Robinhood from $118 to $123, maintaining a Buy rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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