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Why Robinhood Stock Is Soaring Today

TheMotleyFool

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Shares of Robinhood Markets (NASDAQ: HOOD) are jumping on Monday, up 10.7% as of 2:36 p.m. ET. The rise comes as the S 500 and the Nasdaq Composite gained 0.9% and 0.9%, respectively.

The online trading platform announced today that it reached a deal with Miami International Holdings to take control of LedgerX, once part of the infamous crypto exchange, FTX.

The three-party deal will see Robinhood and Susquehanna International Group own a combined 90% stake in LedgerX, with Miami International retaining a 10% stake, and is expected to close in the first quarter of 2026.

Source Fool.com

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