Oil prices hold sharp losses with focus on secondary India tariffs
Baiju Bhatt, a director at Robinhood Markets , Inc. (NASDAQ:HOOD), recently sold 90,866 shares of the company’s Class A Common Stock, according to a recent filing. The company, now valued at $47.24 billion, has seen its stock surge over 360% in the past year. The shares were sold at a price of $55.34 each, totaling approximately $5,028,524. This transaction was executed under a pre-established trading plan, known as the Bhatt 10b5-1 plan, which was adopted in August 2024. According to InvestingPro analysis, the stock is currently trading near its 52-week high of $57.27, suggesting significant momentum. Following this sale, Bhatt, through his living trust, holds no shares of Class A Common Stock directly. InvestingPro subscribers can access 12 additional key insights and a comprehensive Pro Research Report for deeper analysis of HOOD’s valuation and growth prospects.
In other recent news, Robinhood has expanded its platform for UK investors by launching options trading, a move that follows increasing interest from retail investors in alternatives to traditional stock trading. This new feature allows investors to buy or sell options, contracts granting the right, but not the obligation, to buy or sell an asset at a set price within a certain period. In line with this, Mizuho (NYSE:MFG) Securities has raised its price target for Robinhood shares to $65.00 from $60.00, maintaining an Outperform rating on the stock, reflecting a positive outlook for the company’s financial performance and potential growth areas.
In a related development, Robinhood had to suspend its newly launched Super Bowl betting feature following a request from the Commodities and Futures Trading Commission (CFTC). This suspension came shortly after the online brokerage firm introduced the product, allowing customers to place wagers on the outcome of the Super Bowl game. Similarly, the CFTC has requested Robinhood Derivatives, LLC to halt customer access to sports event contracts, leading to a pause on the launch of its Pro Football Championship market.
Furthermore, the CFTC has begun inquiries into Crypto.com and the prediction market Kalshi regarding the legality of their derivatives products tied to Super Bowl sports events. This regulatory scrutiny could have implications for the availability and regulation of similar derivative products in the future. As these developments unfold, Robinhood continues to advocate for balanced regulation in the futures and derivatives markets.
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