Robinhood Markets (Nasdaq: HOOD) shares jumped more than 15% on Aug. 21, extending a volatile week for the retail brokerage as the prices of cryptocurrencies and crypto-linked equities rallied.
The move sent the stock to the intraday high of $109.71 so far, against its previous close of $95.10.
Robinhood is a U.S. online brokerage that offers commission-free trading of stocks, options, cryptocurrencies and prediction markets. Its business is particularly sensitive to crypto activity and sentiment.
Related: Veteran trader who called 50% gold crash buys Bitcoin
The company has also given investors several growth catalysts recently.
On Aug. 10, Robinhood launched crypto trading for UK customers, offering access to more than 50 digital assets through Bitstamp UK. Three days later, Robinhood Ventures Fund II priced an IPO that valued the fund at $225.5 million before expenses.
Those developments follow a record second quarter, when Robinhood reported revenue of $1.31 billion, up 32% year over year.
Veteran trader who called 50% gold crash buys Bitcoin
Cathie Wood trims Ethereum exposure on 11th anniversary
Analysts give investors harsh reality check as U.S. debt tops $40 trillion
The latest leg higher, however, has coincided with a broader crypto rebound.
Bitcoin climbed to its highest level since May on Aug. 21, while Coinbase Global (Nasdaq: COIN) and other crypto-linked stocks also rallied.
Momentum accelerated after President Donald Trump hosted executives from Robinhood, Coinbase, Kraken and other crypto firms at the White House on Aug. 19 and urged Congress to approve a "fair version" of the Clarity Act.
The proposed legislation would establish clearer rules for determining whether digital assets fall under securities or commodities regulation.
For Robinhood, higher crypto prices can also translate into increased customer trading activity, although its stock can move for many reasons and the current rally does not guarantee future gains.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly volatile and risky. Always conduct your own research before making any investment decisions.
Related: Jim Cramer recommends buying Bitcoin
This story was originally published by TheStreet on Aug 21, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.