Robinhood Markets, Inc. (NASDAQ:HOOD) stock is trending Monday after a busy week that included a new prediction markets partnership with Crypto.com, its first-ever IPO underwriting role and August operating data.
- Robinhood stock is gaining positive traction. What’s driving HOOD shares up?
Robinhood Inks Crypto.com Partnership
According to The Wall Street Journal, Robinhood struck a deal with Crypto.com last week to bring the crypto exchange’s yes-or-no event contracts into Robinhood’s prediction markets hub, alongside an equity stake in Crypto.com. The partnership adds Crypto.com to a growing roster of contract suppliers that already includes Kalshi, Interactive Brokers’ ForecastEx and Rothera, Robinhood’s joint venture with Susquehanna International Group.
Robinhood has recorded more than 16 billion event contracts traded in 2026, already surpassing the more than 12 billion traded across all of 2025.
Robinhood Lands IPO Underwriter Role
Separately, Robinhood recently landed its first-ever IPO underwriting role, joining the syndicate for smart-ring maker Oura’s upcoming public offering. Oura filed for its IPO seeking a valuation exceeding $16 billion, with Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co. and Jefferies serving as lead bookrunners. Robinhood is listed 18th in the syndicate, having received regulatory approval to underwrite deals just three months earlier in June.
Robinhood Sees Continued Growth
Robinhood also reported monthly operating data for August late last week. Funded customers reached 28.6 million, up approximately 120,000 from July and up approximately 1.90 million year-over-year.
Total platform assets stood at $384 billion, up 8% from July and up 26% year-over-year. Net deposits totaled $4 billion in August, while equity notional trading volumes reached $335 billion, up 68% year-over-year. Crypto notional trading volumes rose 61% month-over-month to $17.5 billion, and event contracts traded totaled 4.7 billion, up 15x year-over-year.
HOOD Shares Edge Higher
HOOD Price Action: At the time of publication, Robinhood shares were trading 1.08% higher at $113.79, according to data from Benzinga Pro.
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