Robinhood Extends Rally on Blockchain Launch and Street Upgrades

Robinhood shares have surged roughly 30% over the past month, fueled by strong retail trading activity and a wave of bullish analyst coverage. BTIG initiated the stock at Buy with a $125 target, and Goldman Sachs raised its target to $121 after record June activity across event contracts, options, equities and crypto.

At its 'The World is Flat' event, the company publicly launched Robinhood Chain, a Layer 2 network built on Arbitrum for tokenized real-world assets, alongside new stock tokens, DeFi products and AI agent trading capabilities.

Robinhood reports second-quarter results after the close on July 29.