Crypto Momentum Drives Robinhood To New High For Fourth Day Running As Retail Sentiment Soars

Robinhood Markets Inc.’s (HOOD) stock jumped by more than 5% in morning trade on Friday to hit an over four-year high of $48.77, lifting retail sentiment. 

The cryptocurrency exchange’s shares have been hitting higher highs over the last three sessions after announcing a settlement deal with the U.S. Securities and Exchange Commission (SEC) for $45 million on Monday.

Friday’s surge was fueled by a Bloomberg report indicating that President-elect Donald Trump is planning to release an executive order to make cryptocurrency a ‘national priority’, in order to push federal agencies to collaborate with the industry.

Robinhood Markets Inc. Sentiment and Message Volume on Jan.17 as of 12:00 p.m. ET | Source: Stocktwits

On Stocktwits, retail sentiment around Robinhood improved to ‘bullish’ from ‘neutral’ a day ago, as message volume remained at ‘high’ levels. 

Users on the platform were hoping for more upside, with one expecting Robinhood’s stock to hit $50 by the end of the day and another stating that it would only hit that point by the end of the year. 

Robinhood’s rally was buoyed by a Reuters report, earlier this week, that said officials at the SEC could be overhauling the agency’s cryptocurrency policies as early as next week, once President-elect Donald Trump takes office.

Following the report, Bernstein tapped Robinhood as its top pick for 2025 within its bucket of crypto-linked stocks.

 According to the brokerage, Robinhood has the most to gain from the SEC taking a softer stance towards cryptocurrencies and clarifying whether it sees these digital assets as a security or not. 

Morgan Stanley also added the stock to the investment bank's Financials' Finest list as being a very attractive pick in that sector.

Robinhood’s stock has more than doubled in value in 2024 and is up over 20% so far this year. 

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Read also: Bitcoin Mining Stocks Surge As Trump Reportedly Eyes Crypto As 'National Priority': Retail Sentiment Bullish