Why Robinhood Stock Crushed it on Wednesday
It might soon be allowed to facilitate trading in tokenized securities for U.S. clients.
Overview
An article concerning a development that could benefit Robinhood Markets (NASDAQ: HOOD) helped boost the price of the next-generation brokerage on Wednesday. Investors took the report as excellent news for the financial services company and reacted by pushing its shares up almost 9%.
Well before market open, Reuters reported that the Securities and Exchange Commission (SEC) is preparing a policy allowing cryptocurrency companies to transact in crypto products such as tokenized stocks.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.