Robinhood Bought Bitcoin for Its Own Balance Sheet, Then Fell Back Below $100 Billion

Quick Read

• Analysts raised HOOD targets as high as $156 even as the stock fell, because prediction-market revenue of $156M now tops crypto's $100M.

• A congressional report flagged BULL's China ties as a national-security risk, sending BULL down 19% and pulling IBKR down 3% in sector spillover.

• Johann Kerbrat called Robinhood's $25 million Bitcoin treasury purchase immaterial for a $100 billion company, framing it as a gesture to crypto-native customers.

• Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Robinhood didn't make the cut. Enter your email to see the names that beat HOOD. The report is free. Enter your email and see if any of your stocks made the cut.

Robinhood (NASDAQ:HOOD) closed at $109.51, while Wall Street's average price target stands at $133.36, a gap of about 21.8%.

The day's 2.22% decline left the company worth $98.46 billion. That pushed it back under the $100 billion mark it had held one session earlier at about $100.7 billion.

That same morning, a senior executive disclosed that Robinhood had bought $25 million of Bitcoin (CRYPTO:BTC) for its corporate treasury. The two events share a date, and the selloff had other causes.