July 2 - Robinhood (HOOD, Financial) shares climbed more than 8% on Wednesday after the trading app topped the $100 mark for the first time.
The stock has surged over 30% since being passed over for the S&P 500, driven by renewed confidence in its growth strategy.
At a Riviera event, CEO Vlad Tenev outlined Robinhood's plan to merge crypto infrastructure with traditional finance by tokenizing thousands of assets. He said the firm aims to “put products in customers' hands” to show how crypto and finance could fully integrate.
Robinhood is quietly building its own blockchain using Ethereum scaling technology to support 24/5 trading. The company also launched tokenized shares of OpenAI and SpaceX, firms not publicly listed, to European users, marking a shift in retail access to leading tech names.
In the first quarter, Robinhood's revenue rose 50% year‑over‑year, and the platform introduced staking for eligible U.S. customers this week.
Investors will be watching whether Robinhood's European crypto push and new blockchain infrastructure can sustain its rally and justify the lofty valuation.
