Why Robinhood Markets Shares Are Popping Off Today

Robinhood Markets Inc HOOD shares are trading higher by 14.19% to $9.14 Monday afternoon following a report that FTX is said to be exploring a deal for the company.

Bloomberg reported Monday that Sam Bankman-Fried’s FTX crypto exchange is exploring whether it might be able to acquire Robinhood Markets, according to people with knowledge of the matter. 

A new 13D filing from Robinhood last month showed that Emergent Fidelity Technologies and Sam Bankman-Fried own 56,273,469 shares of Robinhood. The position represents a 7.6% ownership stake in the company... Read More

See Also: Why Axsome Therapeutics Stock Is Soaring Today

Robinhood Markets is creating a modern financial services platform.
According to data from Benzinga Pro, Robinhood Markets has a 52-week high of $85.00 and a 52-week low of $6.81.

Photo courtesy of Robinhood. 

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