Robinhood Markets, Inc. (NASDAQ: HOOD) has turned into one of 2025’s most explosive large‑cap trades. The commission‑free brokerage is now an S&P 500 component, its stock is up roughly 260–270% year‑to‑date depending on the reference date, and long‑term holders have seen gains of around 1,400–1,500% over the past three years.Reuters+3Finviz+3Finviz+3 Since November 21, 2025, the story has accelerated: Robinhood has posted blockbuster Q3 earnings, released strong (if choppy) November operating metrics, announced a major derivatives‑exchange acquisition for prediction markets, pushed deeper into global crypto and European trading — and run head‑first into new U.S. gambling‑law scrutiny. Below is a detailed,