Crypto Regulation Boosts Robinhood and Coinbase, Slumps Marvell

The US stock market saw significant price swings across various sectors in recent days. Two discount trading firms, Robinhood (HOOD) and Futu Holdings (FUTU), broke out of their recent uptrend following renewed momentum for the U.S. Clarity Act, which regulates cryptocurrencies.

This legislation is expected to increase crypto trading volumes, leading to higher revenues for companies like Robinhood and Coinbase (COIN). As a result, HOOD stock gained 13% in the last week, while COIN stock jumped by 25.6%. The high short interest on Coinbase shares, at 10.12%, may be a concern.

On the other hand, Marvell Technology (MRVL) fell to its 50-day moving average, down by 5.57% last Friday. The company announced plans to expand its range of custom silicon programs that attach to Alphabet's (GOOG) TPU chip.