By Dylan Berman ,
43 minutes ago Image via Shutterstock Robinhood Markets Inc. (NASDAQ: HOOD ) shares are trading higher Monday alongside Bitcoin, which climbed to around $85,000, its highest level since January.
Robinhood shares are climbing with conviction. Why are HOOD shares rallying? Bitcoin’s Rally Lifts Crypto-Exposed Stocks Bitcoin surged more than 5% over the past 24 hours, lifting crypto-linked equities broadly. Robinhood generates a meaningful share of its revenue from cryptocurrency trading — customers buying and selling Bitcoin and other digital assets directly through the platform — so higher crypto prices tend to coincide with increased trading activity and investor enthusiasm for the stock, even though the company’s Q2 crypto revenue actually declined 38% year-over-year to $100 million as growth in other segments took over.
Shares rose alongside gains in Strategy, Coinbase, MARA Holdings and other crypto-exposed names, according to CoinDesk. A wave of short-seller liquidations added further fuel to the move, with roughly $300 million of the approximately $313 million in crypto positions liquidated over the past hour belonging to short sellers, according to CoinGlass...