Robinhood stock rebounds as Bernstein sees 80% upside

Robinhood stock recovered more than 2% on Thursday after Bernstein maintained its $160 target, betting that tokenization and prediction markets can offset weaker crypto trading. Summary Bernstein maintained an Outperform rating and $160 target, implying roughly 81% upside from Thursday’s close. Robinhood’s second-quarter net revenue rose 32% year over year to $1.31 billion. Event contracts generated $156 million, surpassing the company’s $100 million in crypto trading revenue. HOOD traded at $88.55, but remained below its 20-, 50- and 100-day moving averages. Robinhood stock rebounds from $83.68 Robinhood Markets shares traded at $88.55 on Friday, up approximately 2.25% after moving between $83.68 and $89.48 during the session. Despite the rebound, HOOD remained about 26% below its July high near $120. Source: Yahoo Finance HOOD had closed Wednesday at $89.84 before coming under renewed selling pressure. Thursday’s recovery kept the stock above its 200-day simple moving average at approximately $86.52, a level that could determine whether the recent decline develops into a deeper correction. Bernstein maintained its Outperform rating and $160 price target following Robinhood’s seco...