Why Robinhood Shares Jumped Today
Robinhood Markets (NASDAQ: HOOD) is reportedly a potential target for global crypto exchange FTX. The reports suggest no deal is imminent, but the deal talk caused Robinhood shares to spike 12% higher in the final hour of trading on Monday.
Robinhood has been around less than a decade, but it has packed a lot of drama into that short existence. The stock-trading app caused a revolution in the industry due to its fee-free trading, causing most established brokerages to follow. It was also at the center of the so-called "meme stock" trading binge and has been in the regulatory crosshairs ever since.
As a stock, however, Robinhood has been decidedly less successful. The company went public last summer and immediately spiked about 100% but is now down about 75% from its debut.
Source Fool.com
