Why Robinhood Markets Crushed it on Monday
Cryptocurrencies and companies associated with them were having quite a banner trading session.
Overview
A boom in cryptocurrency prices and a new analyst note were the key catalysts pushing Robinhood Markets (NASDAQ: HOOD) stock to an index-beating gain on Monday.
Investors were eager to snap up shares of the next-generation brokerage, which continues to move aggressively into cryptocurrencies and related assets. Its shares closed the trading session nearly 3% higher, well above the 1.5% increase of the bellwether S&P 500 index.
Details
Robinhood never seems to stop broadening its suite of offerings in the cryptocurrency sphere. This results in the company being increasingly more identified with those assets, a boon on days when digital coins and tokens are on the rise. This occurred on Monday, due in no small part to a set of impactful geopolitical and global macroeconomic developments.
Source
Originally published at www.fool.com.