Robinhood stock surged 16.6% on Thursday, closing at $124.72, its highest close since December 10, after a flurry of bullish Wall Street analyst calls and rapid growth in the company’s Robinhood Chain layer-2 network.
Morgan Stanley upgraded HOOD to Overweight from Equal-weight and raised its price target to $150 from $124, highlighting a 23% year-over-year rise in assets per customer. Scotiabank initiated coverage at Sector Outperform with a $136 target, arguing Robinhood now earns across five distinct revenue pools. Piper Sandler lifted its target to $145 from $135, projecting roughly 29.7 billion event contracts traded from September through December 2026 and about $320 million in prediction market revenue, with strong volumes expected during the NFL and college football seasons. Deutsche Bank also raised its HOOD target to $136 from $115, specifically citing the Robinhood Chain as a key growth driver.
Robinhood Chain launched less than two months ago and has already reached $840 million in total value locked, up nearly 27% in seven days, according to DeFiLlama data. Over the past 24 hours, the network generated $4.59 million in fees, more than Ethereum, Solana, BNB, Avalanche, Base, and Arbitrum. Market commentator The Milk Road noted the chain’s annualized seven-day revenue makes it the fourth-largest business line across Robinhood’s 14 revenue streams. Robinhood also reported about $150 million deposited into newly available trust accounts, with an average account size above $500,000, and Robinhood Gold hit a record 4.8 million subscribers in Q2.
Separately, AMC Entertainment shares rose about 7% on Friday after CEO Adam Aron sharply criticized Robinhood’s tokenized real-world asset effort, including stock tokens linked to AMC. Aron said AMC had no connection to the initiative and did not authorize or endorse the tokens, adding that outside securities counsel would examine the matter. Robinhood states its Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited, providing economic exposure without legal or beneficial ownership rights, and that they are not registered under US securities laws or available to US persons. Aron called the implications almost existential, argued the structure could undermine genuine share ownership and voting rights, and demanded Robinhood CEASE AND DESIST trading AMC stock tokens.
AMC shares have gained roughly 60% this year, helped by the strongest May attendance in seven years and blockbuster releases such as The Odyssey and Spider-Man: Brand New Day. The company also helped create Leawood Films, a distribution venture focused on small and medium-sized movies. Analysts at Zacks noted the AMC rally still faces risks from film release calendar fluctuations, elevated leverage, potential dilution, and uneven cash flow.
