Robinhood Ripped Higher Today. Here's Why
A 7% plunge in the value of Bitcoin (CRYPTO: BTC) -- and other cryptocurrencies -- drove Robinhood (NASDAQ: HOOD) stock lower on Monday. A rebound in Bitcoin prices revived the online brokerage stock yesterday, however. As Bitcoin prices continue to gain strength midweek (up 1.1% Wednesday and above $93,000), Robinhood stock rises even higher.
As of 3 p.m. ET, Robinhood shares are up 6%.
Image source: Getty Images.
Source Fool.com
