Robinhood stock jumped 9% this afternoon after touching a new all-time high of $132.90. The move came on the back of strong business growth and several analyst upgrades that pushed investor interest higher.
The stock has already climbed 237% this year, making it one of the most volatile names on the market at press time.
As Cryptopolitan reported, the company’s latest quarter showed crypto revenues rising 98% to $160 million. Robinhood also added 2.3 million new funded accounts.
That expansion followed its inclusion in the S&P 500 index on September 22, a step that made the stock more visible to institutional investors. Analysts reacted quickly. Piper Sandler lifted its price target to $140, BofA Securities moved theirs to $139, and Mizuho set theirs at $145.
Crypto rally fuels Robinhood momentum
Crypto markets added more weight to today’s surge. The total value of digital assets rose 2.5% to $3.86 trillion. Bitcoin crossed $113,000, while Ethereum surged by 2.8%. That rally gave Robinhood a boost since higher trading activity translates to more revenue.
At the same time, SEC Commissioner Hester Peirce said the U.S. is moving into a more constructive phase for digital assets, easing some concerns about regulation.
The broader environment also played a role. The Federal Reserve restarted its rate-cut cycle, which traders generally see as positive for risk assets, including crypto. Together, these factors strengthened sentiment and added to Robinhood’s momentum.
Robinhood has shown heavy volatility over the past year, with 56 price swings greater than 5%. Today’s surge, while strong, is being read by markets as an important reaction to the latest updates but not a complete reset of how the stock is valued.
The last bullish session came around four days ago, when Robinhood shares dropped 1.7% after news that Chief Technology Officer Jeffrey Tsvi Pinner sold 5,866 shares. A regulatory filing showed the sale brought in about $727,871.
It was done through a pre-arranged 10b5-1 trading plan, which companies use to avoid insider trading issues. Even so, the size of the sale raised questions among some investors and added pressure to the stock.
At current prices, Robinhood has set a 52-week high.
According to CEO Vlad Tenev, Robinhood pulled in over $2 billion in Q3 from its prediction markets platform alone. Tenev posted on X, saying: “Robinhood Prediction Markets just crossed 4 billion event contracts traded all-time, with over 2 billion in Q3 alone. And we’re just getting started.”
At the same time, the broader prediction market space is shifting fast. Kalshi just passed Polymarket to take the top spot in event-based contract trading. It now handles nearly two-thirds of the entire market volume, as more traders move toward U.S.-regulated platforms instead of offshore options.
New data from Dune Analytics showed that between September 11 and 17, Kalshi handled 62% of the total volume, moving over $500 million in trades that week. It also kept an average open interest of $189 million, a sign that more money is staying in the system