Robinhood Soars on Bitcoin Recovery and Strong Earnings

Robinhood's stock price rose 8.2% to $112.09 as Bitcoin recovered above $80,000 and investors became more optimistic about the potential removal of U.S. day-trading restrictions, which could boost retail trading volumes.

The company reported Q2 earnings of $0.62 per share, surpassing the consensus estimate of $0.44, with revenue up 32.5% year-over-year to $1.31 billion.

Analysts at Bernstein highlight Robinhood's fast-growing event contracts segment, projecting volumes could reach $1 trillion annually by 2030.