Robinhood Chain Surges as Robinhood Stock Price Hits New High

Robinhood Chain is experiencing rapid growth, according to third-party data. The total value locked (TVL) in the chain has reached a record high of $783 million, surpassing many popular chains in the industry.

This growth is part of a larger trend for Robinhood, which has expanded its services into options trading, crypto, and prediction markets. The company's partnership with Kalshi and its collaboration with Susquehanna on a new business venture are also contributing to its success.

Robinhood's stock price has responded positively to these developments, increasing by over 70% from its lowest level this year to $110 in extended hours trading.

The company's diversification efforts and growing revenue are expected to continue driving growth. Analysts forecast that Robinhood's annual revenue will jump to $5.19 billion, up by 16% YoY, and then to $6.55 billion next year.