Robinhood Stock Hits All-Time High as Company Ups Ante on Prediction Markets

Robinhood's stock (NASDAQ: HOOD) reached a new high, trading close to $140 a share following reports of the company expanding its prediction markets beyond the U.S. The stock surged by 275% year-to-date, partly due to CEO Vlad Tenev announcing over 4 billion event contracts traded on its platform. Since launching event contracts ahead of the U.S. presidential election last year, the company is now exploring opportunities for international expansion, particularly with the UK's Financial Conduct Authority regarding the European market. Additionally, the prediction market is becoming increasingly competitive, with other brands like PrizePicks also entering this space. As Robinhood continues to innovate and extend its reach, its share price reflects investor optimism about the platform's potential growth and success in new markets.

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