Robinhood (HOOD) Stock Up 6.5% on $200M Bitstamp Buyout Deal

On Thursday, Jun 6, Robinhood Markets, Inc. (HOOD) announced that it has inked a deal to buy Luxembourg-based cryptocurrency exchange Bitstamp for $200 million. Robinhood's shares jumped 6.5% on the news during the trading session. HOOD has been having a terrific year to date. In the first week of May, the company reported $618 million in revenues for the quarter ended March 2024, representing a year-over-year increase of 40.1%. It beat the Zacks Consensus Estimate of $544.7 million, pulling off a surprise ...