Robinhood Stock Gains 60% Since March as Chain Fees Top Ethereum, Morgan Stanley Turns Bullish

• Robinhood stock has gained more than 60% since March, with Morgan Stanley upgrading HOOD and raising its price target to $150
• Robinhood Chain has seen a surge in activity, with daily fees reportedly topping Ethereum, Solana and Base
• Prediction markets and crypto are becoming bigger revenue drivers, with event-contract revenue reaching $156 million in Q2

Robinhood stock has put together a strong run since March, with HOOD stock now up more than 60%. The move comes as the company keeps adding new businesses around its core trading platform, giving investors more to watch than just retail stock and crypto activity. Two developments are drawing attention now, with Morgan Stanley turning more positive on the shares while Robinhood’s blockchain push is seeing a sharp jump in activity.

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Morgan Stanley Bets on Robinhood’s Next Growth Phase

Robinhood’s stock is currently sitting at $103.51 following a 1.24% drop over the past 24 hours. Morgan Stanley upgraded Robinhood to Overweight this week and lifted its price target to $150 from $124. The bank sees the company’s prediction-markets business as an increasingly important growth driver.

The business has been moving quickly. Robinhood said event-contract revenue reached $156 million in the second quarter, topping the $100 million generated from crypto trading during the period. The shift is worth noting because it shows how quickly new products are becoming meaningful parts of the business.

Robinhood has also been steadily adding products for its existing customers. The company ended the second quarter with 27.7 million funded customers, while total platform assets reached $324 billion.

For investors, that gives the Robinhood stock price a different story than it had a few years ago. The company is trying to make more money from the same customer base by adding products across trading, crypto, prediction markets, and other financial services.

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Robinhood Chain Makes Noise in Crypto

On August 31, the network reportedly generated more daily fees than Ethereum, Solana, and Base, according to data. Activity has been fueled by trading on its decentralized exchange, with DEX volume reaching about $1.49 billion and daily transactions hitting 5.52 million.

It has also pushed Robinhood fees higher as activity on the network picks up. The numbers are still early, and much of the recent activity has been tied to speculative trading, including memecoins and tokenized assets. Still, it gives Robinhood another potential source of revenue outside its traditional brokerage business.

For HOOD stock, that is becoming the bigger question. The company is no longer selling investors a single-product story. Morgan Stanley’s upgrade suggests Wall Street is starting to take the wider Robinhood platform more seriously.

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