What's Going On With Robinhood Markets Stock?

Robinhood Markets, Inc. HOOD shares are trading higher Wednesday, and the stock is up by more than 12% over the past five days.

What To Know:

On Monday, Cathie Wood's fintech-focused, actively-traded fund, the Ark Fintech Innovation ETF ARKF bought 143,063 Robinhood shares. At Monday’s closing price of $8.39, the purchase is valued at $1.2 million.

Last Friday, Morgan Stanley analyst Michael Cyprys maintained Robinhood Markets with an Equal-Weight and lowered the price target from $12 to $11.

Shares of HOOD are moving on heavy trading volume Wednesday. According to data from Benzinga Pro, more than 7.68 million shares have already been traded in the session, surpassing the stock's 100-day average volume of 7.269 million shares.

According to data from Benzinga Pro, shares of HOOD are trading just below the stock's 50-day moving average of $9.16 and below its 52-week high low of $13.23.

HOOD Price Action: According to Benzinga Pro, Robinhood Markets shares are up by 4% at $8.99 at the time of publication.

Image: Tumisu from Pixabay

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