Robinhood rallies as bitcoin bounds above $70,000

Strategy

04/03/2026 14:21

** Retail trading platform Robinhood's HOOD.O shares up 5% at $79.87 premarket as bitcoin BTC= bounds above $70,000 for first time since mid-Feb

** The world's largest cryptocurrency last up 5.8% to $72,005.96, a more than three-week high; ether ETH= up 5.3% to $2,073.43

** HOOD shares slid ~9% on Feb 11 after co's Q4 rev missed consensus as turbulent quarter for digital assets weighed on its crypto trading revenue

** Through Tues close, stock down 33% YTD

** Of 26 analysts covering the stock, 22 rate "strong buy" or "buy", 3 rate "hold" and 1 recommends "sell"; median PT of $125.28 implies 65% upside to last close

** Meanwhile, other crypto-linked stocks also advance before the bell, including crypto exchange Coinbase Global COIN.O and BTC stockpiler Strategy MSTR.O both up >7%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com ; 1-646-279-6380))