Robinhood (HOOD) Surges 10.9% on Prediction Markets Expansion

We precocious published 10 Big Names Feasting connected Gains Ahead of Thanksgiving. Robinhood Markets, Inc. (NASDAQ:HOOD) is 1 of the best-performing stocks connected Wednesday.

Robinhood Markets extended its winning streak to a 4th consecutive time connected Wednesday, climbing 10.93 percent to extremity astatine $128.20 apiece arsenic investors took bosom from its concern with Susquehanna International Group to grow its fastest-growing prediction markets operations.

In an announcement connected the aforesaid day, Robinhood Markets, Inc. (NASDAQ:HOOD) said that it joined forces with Susquehanna to motorboat and run a Commodity Futures Trading Commission (CFTC)-licensed speech and clearinghouse to seizure and service the beardown request successful the prediction markets.

Robinhood Markets, Inc. (NASDAQ:HOOD) volition service arsenic the controlling partner, portion Susquehanna volition assistance supply liquidity.

In enactment with the partnership, the associated task would get MIAXdx—a CFTC-licensed Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Swap Execution Facility (SEF), and wholly-owned subsidiary of Miami International Holdings, Inc. (MIAX). The second volition stay invested done a strategical 10 percent equity involvement successful the exchange.

Robinhood Markets, Inc. (NASDAQ:HOOD) said that the prediction markets person rapidly go its fastest-growing merchandise enactment by revenue, conscionable a twelvemonth aft it was launched. In fact, immoderate 9 cardinal contracts person already been traded by much than 1 cardinal customers.

The speech volition service Robinhood Derivatives and different Futures Commission Merchants, and is expected to statesman operations successful 2026.

While we admit the imaginable of HOOD arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.