Robinhood Markets (HOOD) Touches All-Time High as Prediction Markets Hit 4 Billion

We recently published 10 Stocks With 10-60% Upside. Robinhood Markets Inc. (NASDAQ:HOOD) is one of the top performers on Monday.

Robinhood Markets bounced back from losses on Monday to hit an all-time high after its prediction market services surged to a new record level.

In intra-day trading, the company soared to its highest 52-week price of $136.84 before giving up marginal gains to end the day up by 12.27 percent at $136.72 apiece.

This followed Robinhood Markets Inc. (NASDAQ:HOOD) Chief Executive Officer Vlad Tenev’s announcement that the company’s prediction markets officially cracked past the 4 billion event contracts, more than half of which occurred in the third quarter alone.

In partnership with Kalshi, a US-based financial exchange and prediction market regulated by the US Commodity Futures Trading Commission, Robinhood Markets Inc. (NASDAQ:HOOD) provides its customers the ability to trade prediction-market contracts. Just recently, it expanded its offerings into pro- and college football contracts.

In other developments, investors also continued to digest Robinhood Markets Inc.’s (NASDAQ:HOOD) news last week that it officially rolled out banking services as part of its broader push to become a full-service financial hub.

While we acknowledge the potential of HOOD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.