Robinhood Markets Inc. (NASDAQ:HOOD) stock is trading higher on Thursday, following a wave of major product announcements at its “The World is Flat” summer crypto event in London and a positive analyst update.
Robinhood Chain Mainnet Launch
The primary catalyst for the market movement is the public mainnet launch of Robinhood Chain, a specialized Layer-2 blockchain network built on Arbitrum technology.
Designed to power tokenized real-world assets and decentralized finance (DeFi) trading, the network integrates with Uniswap (CRYPTO: UNI), Chainlink (CRYPTO: LINK), Alchemy and BitGo.
The upward momentum coincided with a positive analyst update. Mizuho maintained an Outperform rating on Robinhood Markets and raised its price forecast on the stock from $115 to $130.
Expanded DeFi and AI Product Suite
The product introductions began on Wednesday, bridging traditional finance and digital assets. The rollout includes a fully operational tokenized stock offering, allowing eligible users in more than 120 countries to trade equity tokens around the clock and deploy them into lending protocols.
Robinhood also introduced Robinhood Earn, a lending product enabling eligible U.S. customers to deploy dollar-backed USDG stablecoins via self-custody wallets for an estimated 7% annual percentage yield (APY).
Furthermore, the company expanded its Agentic Trading technology into cryptocurrencies, introducing Agentic Accounts to let users connect AI models to the trading infrastructure for automated market analysis.
June Trading Volumes Provide Support
The operational updates build on a strong trading backdrop reported by the company. Through June 25, Robinhood recorded equity notional trading volumes of approximately $343 billion, options contracts traded of about 274 million, and crypto notional trading volumes of around $14 billion. Event contracts traded reached approximately 5.2 billion.
Critical Levels To Watch for HOOD Stock
HOOD is extended to the upside versus its key trend gauges, trading 17.6% above the 20-day SMA ($95.57) and 30.6% above the 50-day SMA ($86.06), which signals strong intermediate momentum but also raises the odds of sharper pullbacks if buyers pause. It’s also 9.8% above the 200-day SMA ($102.38), keeping the longer-term trend constructive even after the stock’s earlier volatility.
The moving-average picture is mixed under the hood: the 20-day SMA is above the 50-day SMA (bullish), but the 50-day SMA remains below the 200-day SMA following the death cross in February.
- Key Resistance: $112.50 — a nearby pivot area where a premarket push can stall if early buyers take profits
- Key Support: $110.50 — a nearby level that can act as a first line in the sand if the open brings a quick fade
HOOD Stock Price Activity: Robinhood Markets shares were up 3.33% at $112.27 during premarket trading on Thursday, according to Benzinga Pro data.
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