Robinhood stock surges 12% on new crypto launch in EU
Robinhood stock has gained more than 300% over the past year.
Shares of Robinhood (NASDAQ:HOOD) stock were on the move Monday, spiking some 12% higher to almost $93 per share.
Few stocks have performed better than Robinhood in recent times, as the stock is now up a ridiculous 144% year-to-date and 301% over the past 12 months.
Monday’s surge was due to a direct catalyst that should boost its business on a global scale. At a presentation in Cannes, France, Robinhood executives announced the launch of US stock and ETF tokens in the European Union (EU).
Stock and ETF tokens are derivatives tracked on the blockchain that follow traditional stocks and ETF prices. Essentially, they provide crypto investors in the EU with…
