Robinhood Markets Inc (NASDAQ:HOOD) stock is 4.7% higher before the bell, after the trading platform unveiled a slew of new features at its annual summit. Robinhood debuted AI-powered trading agents, 24/7 trading of some U.S. stocks, and earnings prediction markets backed by Cboe Global Markets.
HOOD is firmly in an uptrend from late March 52-week lows at $63.51. The shares have additional support at their 100-day moving average, and are building some separation from their year-to-date breakeven level today.
Keep an eye on short sellers. Short interest increased by 9.1% in the most recent reporting period, and the 36.17 million shares sold short account for 4.6% of HOOD's total available float.
Options are affordably priced. The stock's Schaeffer’s Volatility Index (SVI) of 58% stands in the 10th percentile of its annual range. Robinhood also sports a Schaeffer's Volatility Scorecard (SVS) of 74 out of 100, indicating the equity has tended to exceed option traders' volatility expectations during the past 12 months.
