Robinhood stock nears record high as tokenization strategy gains traction
Robinhood is trading near all-time highs as its expanded push into crypto and blockchain continues to pay off.
Robinhood’s strategic embrace of blockchain technology and tokenization has fueled a nearly 30% rally in its stock over the past month, highlighting the brokerage’s new growth drivers despite regulatory scrutiny of some of its products.
Robinhood stock, trading under the ticker HOOD, surged on Wednesday to $94.65 in New York trading, putting it within 4% of its all-time closing high set on July 2.
The stock has climbed more than 27% over the past month and is up 137% year-to-date, lifting its market capitalization to over $82 billion.
