I just opened Binance’s contract market and saw the code $HOOD , which was a bit unexpected. It turns out it’s a tokenized perpetual contract built from a Robinhood stock, and you can open it 24 hours a day. In this day, it rose 7.78%, with the latest price at 112.09 and a high that touched 112.52. The outside news is talking about the same thing: this crypto market rebound, plus new funds moving in, has lifted Robinhood’s stock price along with it.
Robinhood already earns its living from its crypto business. When crypto goes up, it follows and rises ahead of itself. This stock is now tightly tied to crypto price sentiment, and it doesn’t really look like a pure brokerage stock anymore.
If the crypto market turns downward next, can $HOOD hold up, or will it also fall back together to the area around the 102 line?
Robinhood already earns its living from its crypto business. When crypto goes up, it follows and rises ahead of itself. This stock is now tightly tied to crypto price sentiment, and it doesn’t really look like a pure brokerage stock anymore.
If the crypto market turns downward next, can $HOOD hold up, or will it also fall back together to the area around the 102 line?
