Robinhood Stock Jumps on New Product Launches and Bullish Price Target Boost

Roland Hoegel's Robinhood Markets (NASDAQ: HOOD) stock saw a significant jump of up to 7% on Thursday, reaching an intraday high of $120.05 before settling near $112.73.

The rally was fueled by the company's announcement at its first-ever London investor event, where it unveiled new products, including the mainnet launch of Robinhood Chain, an Ethereum-based Layer-2 blockchain, alongside tokenized stocks that can trade 24/7.

Additionally, Robinhood introduced agentic AI trading tools, allowing customers to build their own AI agents for analyzing portfolios and executing trades. The company also rolled out perpetual futures contracts for eligible European users tied to commodities like gold, silver, oil, and foreign exchange.

Johann Kerbrat, Robinhood's crypto vice president, stated that the AI tools 'will level the playing ground... make retail able to participate in the market a lot more than they used to be.'