Robinhood stock surges on leading analyst's bullish call

Shares of Robinhood Markets (Nasdaq: HOOD), the e-trading company offering stocks and cryptocurrencies, surged more than 8% to hit the intraday high of $124.30 on Nov. 26.

The stock rally follows a bullish call by leading analysts at Bernstein, the research and brokerage firm.

Founded in 2013 by Stanford graduates Vlad Tenev and Baiju Bhatt, Robinhood is an American trading exchange that lets traders access stocks, funds, cryptocurrencies, etc.

In 2021, Robinhood went public on the Nasdaq under the ticker HOOD. In 2025, the firm hit another milestone, joining the S&P 500 index.

Bernstein bullish on Robinhood's prediction market business line

Recently, Bernstein analysts led by Gautam Chhugani said in a note that Robinhood is doubling down on prediction markets as it prepares to roll out a CFTC-regulated derivatives trading exchange through a joint venture with Susquehanna.

The move could reshape the competitive landscape of the fast-emerging sector, the analysts said.

Robinhood already drives more than half of the sector leader Kalshi 's trading volume through an existing partnership, Bernstein analysts said. 

They added that Robinhood now wants to use its distribution edge to capture a bigger slice of the revenue pool by plugging in its own liquidity and exchange infrastructure.

Bernstein noted that prediction markets have quickly become Robinhood's fastest-growing business segment, with more than 9 billion contracts traded by over 1 million users since the launch earlier this year.

In the third quarter alone, Robinhood processed 2.3 billion contracts through its prediction-markets hub. October volume reached $2.5 billion, representing 57% of Kalshi's activity for the month.

Bernstein expects Robinhood to keep distributing Kalshi products but gradually layer in its own event contracts as the business scales.

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On Nov. 25, Robinhood said it will control the joint venture and acquire MIAXdx, a CFTC-licensed Derivatives Clearing Organization and Swap Execution Facility from Miami International Holdings.

The HOOD stock was exchanging hands at $124.93 at the time of writing, up 8.05% in a day.

Bernstein expects Coinbase to launch prediction market product

Bernstein also said it expects Coinbase (Nasdaq: HOOD), the largest crypto trading exchange in the U.S., to introduce a prediction market product next month.