Robinhood (HOOD) to Acquire Bitstamp

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Go back to Robinhood (HOOD) to Acquire Bitstamp

Bernstein SocGen Group Reiterates Outperform Rating on Robinhood Markets (HOOD)

June 7, 2024 10:43 AM EDT

Bernstein SocGen Group analyst Gautam Chhugani reiterated an Outperform rating and $30.00 price target on Robinhood Markets (NASDAQ: HOOD)

The analyst comments "Why does it make sense to acquire Bitstamp? HOODs crypto offering within the broker platform offers 15 tokens to retail... More

Mizuho on Robinhood Markets (HOOD): 'Bitstamp Acquisition Could Help HOOD Disrupt Institutional Crypto'

June 6, 2024 8:52 AM EDT

Mizuho analyst Dan Dolev reiterated a Buy rating and $23.00 price target on Robinhood Markets (NASDAQ: HOOD).

The analyst comments "After disrupting retail trading, we believe that today's acquisition of Bitstamp for $200mn in cash could help HOOD kill two birds with one stone. (1)... More

Robinhood to acquire Bitstamp for $200 million amid crypto push; shares climb

June 6, 2024 8:00 AM EDT

Robinhood Markets (NASDAQ: HOOD) announced Thursday it has agreed to purchase cryptocurrency exchange Bitstamp for approximately $200 million in cash, marking its largest deal to date.

HOOD stock rose 3% in premarket trading.

The move comes as Robinhood, the 11-year-old trading app well-known among retail investors, aims to grow into a comprehensive... More