Robinhood Shares Ride Crypto Boom Back to Record Highs
(Bloomberg) — Nearly four years after its much-hyped debut, Robinhood Markets Inc. has finally seen its shares hit a fresh record as cryptocurrency markets rally.
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The stock rose 5.5% to close at $71.72 on Tuesday. The previous high was $70.39, set days after the online brokerage’s initial public offering.
Robinhood’s shares languished for years as 2021’s meme-stock frenzy faded and the collapse of FTX fueled a crash in digital asset prices. Less than a year after its debut the stock had slid 82%, and didn’t reach its IPO price until December 2024. The stock rallied close to record territory in February, riding a boom in crypto that fueled a blowout quarterly print, then fell nearly 50%…
