Can Robinhood Stock Hit $150 Amid Ark Invest’s Bet & This Major Update?
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Key Insights:
- Robinhood stock jumped more than 5% today, sparking market optimism.
- The surge comes as Ark Invest has made a significant HOOD stock acquisition.
- Analyst reveals a target of $150 for Robinhood stock.
Robinhood stock has recorded a surge of over 5% in the pre-market trading session today, soaring past the $120 mark. Notably, the surge in HOOD stock price came despite a muted sentiment recorded in the broader crypto market, and BTC price traded below $87,000.
A flurry of market experts has attributed the recent gains in the crypto stock to the latest expansion plans of it into the prediction markets. For context, a recent acquisition of the firm appears to have fueled the market interest.
On the other hand, Cathie Wood’s Ark Invest has made robust bets in the crypto stocks arena. For context, Ark Invest has recently bagged shares of Circle, Coinbase, and Robinhood, among others, indicating its confidence in the assets.
Amid this, a top expert has hinted at a potential surge of the HOOD stock price to $150. So, here we explore the potential reasons behind the surge in Robinhood stock and see what experts are anticipating for the potential future trajectory of the asset.
Robinhood Stock Soars Amid Ark Invest’s Bet
The Robinhood (HOOD) stock price has added nearly 5.2% in the pre-market trading session today and traded at $121.59. Notably, this comes after the crypto stock closed at $115.57, up 0.5% in the prior session on Tuesday, November 25.
The latest surge has helped in a 1% gain in HOOD stock on its weekly chart, but the monthly return was down at 17%. The price dip over the past few weeks could be attributed to the broader crypto market selloff, which has spooked traders and erased gains from crypto-related funds.
However, the robust Q3 earnings results of the firm appear to have bolstered the investors’ confidence. In addition, the gain in the pre-market session today also suggests that the investors are once again regaining their confidence in the asset.
This is further evidenced by the latest bets from Cathie Wood’s Ark Invest. According to the latest update by the Ark Invest Tracker, Ark Invest’s ARKW has accumulated 7,604 shares of HOOD stock, valued at around $875k at the closing price of yesterday.
Notably, Ark Invest’s ARKK has also put its bet on Circle and Coinbase stocks on Tuesday.
HOOD Stock to $150 Amid Prediction Markets Push?
The latest surge in Robinhood stock could also be due to its recent push in the prediction market.
For context, Robinhood and Susquehanna International Group reportedly announced plans to acquire a majority stake in LedgerX, a regulated exchange previously tied to the now-defunct cryptocurrency firm FTX.
The deal positions both firms to capitalize on the rapidly expanding prediction markets sector. This strategic move leverages both the companies’ existing ties to prediction markets.
Susquehanna currently serves as a market maker on Kalshi, a leading US-based prediction market exchange, while Robinhood provides Kalshi’s event contracts to its retail investors.
The acquisition of LedgerX is expected to give both companies direct control over the systems required to create and settle event contracts on their own terms.
Notably, the deal is a significant play for Robinhood, which has been expanding its offerings beyond traditional trading.
Amid this, analyst Donald Dean has hinted at a likely surge in Robinhood stock price ahead. In a recent X post, the expert said that HOOD stock has been consolidating in the $97 and $117 range over the past few weeks, making it an ideal zone for accumulation.
Simultaneously, he has set a target of $153.86 for the asset. Besides, he noted that hitting the target would allow the asset to challenge its local highs ahead.
The post Can Robinhood Stock Hit $150 Amid Ark Invest’s Bet & This Major Update? appeared first on The Coin Republic.
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Can Robinhood Stock Hit $150 Amid Ark Invest’s Bet & This Major Update?
Share:
Key Insights:
- Robinhood stock jumped more than 5% today, sparking market optimism.
- The surge comes as Ark Invest has made a significant HOOD stock acquisition.
- Analyst reveals a target of $150 for Robinhood stock.
Robinhood stock has recorded a surge of over 5% in the pre-market trading session today, soaring past the $120 mark. Notably, the surge in HOOD stock price came despite a muted sentiment recorded in the broader crypto market, and BTC price traded below $87,000.
A flurry of market experts has attributed the recent gains in the crypto stock to the latest expansion plans of it into the prediction markets. For context, a recent acquisition of the firm appears to have fueled the market interest.
On the other hand, Cathie Wood’s Ark Invest has made robust bets in the crypto stocks arena. For context, Ark Invest has recently bagged shares of Circle, Coinbase, and Robinhood, among others, indicating its confidence in the assets.
Amid this, a top expert has hinted at a potential surge of the HOOD stock price to $150. So, here we explore the potential reasons behind the surge in Robinhood stock and see what experts are anticipating for the potential future trajectory of the asset.
Robinhood Stock Soars Amid Ark Invest’s Bet
The Robinhood (HOOD) stock price has added nearly 5.2% in the pre-market trading session today and traded at $121.59. Notably, this comes after the crypto stock closed at $115.57, up 0.5% in the prior session on Tuesday, November 25.
The latest surge has helped in a 1% gain in HOOD stock on its weekly chart, but the monthly return was down at 17%. The price dip over the past few weeks could be attributed to the broader crypto market selloff, which has spooked traders and erased gains from crypto-related funds.
However, the robust Q3 earnings results of the firm appear to have bolstered the investors’ confidence. In addition, the gain in the pre-market session today also suggests that the investors are once again regaining their confidence in the asset.
This is further evidenced by the latest bets from Cathie Wood’s Ark Invest. According to the latest update by the Ark Invest Tracker, Ark Invest’s ARKW has accumulated 7,604 shares of HOOD stock, valued at around $875k at the closing price of yesterday.
Notably, Ark Invest’s ARKK has also put its bet on Circle and Coinbase stocks on Tuesday.
HOOD Stock to $150 Amid Prediction Markets Push?
The latest surge in Robinhood stock could also be due to its recent push in the prediction market.
For context, Robinhood and Susquehanna International Group reportedly announced plans to acquire a majority stake in LedgerX, a regulated exchange previously tied to the now-defunct cryptocurrency firm FTX.
The deal positions both firms to capitalize on the rapidly expanding prediction markets sector. This strategic move leverages both the companies’ existing ties to prediction markets.
Susquehanna currently serves as a market maker on Kalshi, a leading US-based prediction market exchange, while Robinhood provides Kalshi’s event contracts to its retail investors.
The acquisition of LedgerX is expected to give both companies direct control over the systems required to create and settle event contracts on their own terms.
Notably, the deal is a significant play for Robinhood, which has been expanding its offerings beyond traditional trading.
Amid this, analyst Donald Dean has hinted at a likely surge in Robinhood stock price ahead. In a recent X post, the expert said that HOOD stock has been consolidating in the $97 and $117 range over the past few weeks, making it an ideal zone for accumulation.
Simultaneously, he has set a target of $153.86 for the asset. Besides, he noted that hitting the target would allow the asset to challenge its local highs ahead.
The post Can Robinhood Stock Hit $150 Amid Ark Invest’s Bet & This Major Update? appeared first on The Coin Republic.
In This News
Coins
$ 90.79K
+4.22%$ 0.00696
Share:
In This News
Coins
$ 90.79K
+4.22%$ 0.00696
Share:
Read More
Crypto Stocks to Watch as Bitcoin Targets $90,000 Level Again