US Stock Market: Robinhood Surges 12.3% in Early Trading, Stock Price Reaches New High Since January

BlockBeats News, September 3rd, according to BIT (bit.com) market data, US stock Robinhood (HOOD) saw its pre-market gain expand to 12.3%, with the stock price surpassing $120, reaching a new high since January of this year.

Recently, Robinhood has shown a significant upward trend, mainly driven by the surge in on-chain transactions, Wall Street's intensive ratings upgrades, and the anticipation of a substantial increase in market revenue. The Robinhood Chain has been particularly active, with network revenue exceeding $3.8 million on the first day of September, accounting for approximately 38% of the total daily network revenue; processing a record 5.52 million transactions in a single day, with app revenue of around $2.66 million, setting a new high since launch. At the same time, multiple Wall Street institutions such as Morgan Stanley and Piper Sandler have intensely upgraded their ratings and target prices, predicting that the market's second-quarter revenue will increase more than tenfold year-on-year to $156 million.