Why Robinhood (HOOD) Stock Is Up Today

StockStory12-17

What Happened? Shares of financial services company Robinhood (HOOD) jumped 7.8% in the afternoon session after stocks linked to the cryptocurrency space soared as Bitcoin, the largest cryptocurrency ...

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This heightened trading activity translates into higher transaction volumes and more revenues for trading platforms like Robinhood that earn fees on these trades.The shares closed the day at $43.18, up 7.4% from previous close.Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft  to Alphabet , Coca-Cola  to Monster Beverage  could all have been identified as promising growth stories with a megatrend driving the growth. 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This heightened trading activity translates into higher transaction volumes and more revenues for trading platforms like Robinhood that earn fees on these trades. \nThe shares closed the day at $43.18, up 7.4% from previous close. \nIs now the time to buy Robinhood? Access our full analysis report here, it’s free.\nWhat The Market Is Telling Us\nRobinhood’s shares are extremely volatile and have had 31 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. \nThe previous big move we wrote about was 21 days ago when the stock gained 6.9% on the news that Morgan Stanley analyst Michael J. Cyprys raised the stock's rating from Equal Weight to Overweight and increased the price target from $24 to $55 with the expectation that the company will benefit from the US elections amid hopes of deregulation. The new price target implied a potential 50% upside from where shares traded before the upgrade was announced. The analyst added, \"Revenue growth looks stronger post-election on durable retail trading and more crypto support, M&A opening up, and animal spirits reviving... Execution on plans to broaden platform supports 15% top line CAGR to $4B in 2027.\"\nRobinhood is up 248% since the beginning of the year, and at $43.05 per share, has set a new 52-week high. Investors who bought $1,000 worth of Robinhood’s shares at the IPO in July 2021 would now be looking at an investment worth $1,236. \nHere at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492282623"}