Robinhood Stock Climbs Wednesday: What's Fueling The Move?

Robinhood Markets Inc (NASDAQ:HOOD) shares are trading higher Wednesday afternoon as Bitcoin's (CRYPTO: BTC) rally renewed expectations that the app-based brokerage could see another pickup in trading activity. Here’s what investors need to know.

• Robinhood Markets shares are climbing with conviction. What’s fueling HOOD momentum?

Bitcoin Rally Lifts HOOD

The stock surged Wednesday after Bitcoin climbed roughly 5% to trade back above $68,000, fueled by renewed inflows into spot ETFs and improving risk sentiment across crypto markets.

On-chain data suggest the world's largest cryptocurrency may have further room to run if its historically tight correlation with equities snaps back, giving investors another reason to buy Robinhood as a leveraged play on digital assets.

Bitcoin Surge Drives User Activity

For Robinhood, every big Bitcoin move is effectively a marketing campaign it doesn't have to pay for. Crypto trading remains one of the platform's most powerful magnets for new and returning users, driving order flow not only in Bitcoin but in smaller tokens, options and high-beta stocks.

More activity lifts transaction-based revenue, boosts margin balances and expands the company's high-yield cash and Gold subscription businesses.

The move also reinforces Robinhood's role as a gateway to the broader crypto ecosystem. Customers can trade Bitcoin directly, buy the new U.S. spot ETFs and move coins into Robinhood's standalone wallet, keeping activity, and economics, inside the company's ecosystem.

Still, sentiment is running hot. Social-media data show the most bullish skew in weeks around Bitcoin's rebound, a pattern that has sometimes preceded sharp pullbacks. Even so, as long as crypto remains the retail market's favorite risk barometer, a rising Bitcoin tide is likely to keep lifting Robinhood's stock as well.

Robinhood’s Short Term Technical Weakness

The stock is currently trading 9.8% below its 20-day simple moving average (SMA) and 4.1% below its 100-day SMA, indicating some short-term weakness. Over the past 12 months, shares have decreased significantly and are currently positioned closer to their 52-week lows than highs.

The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is at 0.15, below its signal line at 0.22, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that traders should remain cautious.

• Key Resistance: $80.00
• Key Support: $75.00

Analysts Maintain Buy Ratings

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $138.06. Recent analyst moves include:

• Truist Securities: Buy (Lowers Target to $120.00) (Feb. 12)
• Cantor Fitzgerald: Overweight (Lowers Target to $100.00) (Feb. 17)
• Mizuho: Outperform (Lowers Target to $135.00) (Feb. 17)

HOOD Stock Jumps Wednesday

HOOD Price Action: Robinhood Markets shares were up 5.23% at $77.23 at the time of publication on Wednesday, according to Benzinga Pro data.

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