November 29, 2025 — Markets closed November 28
Robinhood Markets, Inc. (NASDAQ: HOOD) is ending Thanksgiving week as one of the most explosive stories in the S&P 500. The stock closed on Friday at $128.49, near the upper end of its 52‑week range of $29.66 to $153.86, after a blistering ~242% gain over the last 12 months and a more than threefold move from early‑2025 levels. [1]
This week’s catalyst has been Robinhood’s aggressive push into prediction markets and derivatives infrastructure, a move that helped drive a ~19% weekly surge and made HOOD one of Investing.com’s “stocks of the week.” [2] On November 29, fresh headlines also spotlight major institutional buying led by Norges Bank, new analysis of insider selling and ownership, and technical indicators flashing “strong buy” even as valuation concerns grow. [3]
Below is a full rundown of what’s new for Robinhood stock today — and what it could mean for investors watching HOOD after its huge 2025 rally.
Robinhood stock today: price, performance and momentum
As of Friday’s close (November 28), Robinhood shares finished at $128.49, up 0.23% on the day. Over the last week, the stock has climbed about 19%, putting it among the strongest performers in the S&P 500 during a holiday‑shortened stretch. [4]
Over a longer horizon, the rally is even more dramatic:
- 1‑year performance: +~242% [5]
- 2025 year‑to‑date: roughly +200%+, with Motley Fool noting gains of about 57% in 2023, 193% in 2024, and ~209% in 2025 as of November 21 — putting Robinhood on track for a third straight year of 50%+ returns. [6]
From a technical perspective, HOOD is firmly in “momentum stock” territory:
- Investing.com’s daily technical dashboard rates HOOD as a “Strong Buy,” with 11 buy vs. 1 sell signals across moving averages.
- The 14‑day RSI sits around 74, an “overbought” reading that often accompanies strong rallies. [7]
In other words, short‑term trend followers still see upside momentum, but the overbought signals also warn that the stock is vulnerable to pullbacks if sentiment shifts.
November 29 news roundup: big‑money buying, insider moves and a 19% weekly surge
Here are the key Robinhood stock headlines as of November 29, 2025.
1. Norges Bank opens a near‑$1 billion position
A new MarketBeat report reveals that Norges Bank, Norway’s central bank and one of the world’s largest sovereign investors, opened a new position of about 10.39 million Robinhood shares in the second quarter. The stake is worth roughly $973 million and represents about 1.17% ownership of the company. [8]
That same filing data shows that:
- Vanguard, Geode, WCM Investment Management, Kingstone, and others also added or initiated large positions.
- Institutional investors now control roughly 93% of Robinhood’s float, underscoring how far HOOD has moved from meme‑stock territory toward institutional core holding status. [9]
2. Williamson Legacy Group boosts stake by 178%
Another MarketBeat note highlights Williamson Legacy Group LLC, which increased its Robinhood holdings by 178% in Q2 to 25,550 shares, worth about $2.39 million at the time of the filing. Robinhood is now the fund’s third‑largest position, accounting for about 2% of its portfolio. [10]
Combined, the Norges Bank and Williamson moves reinforce a key theme of 2025: large, long‑term institutions are leaning into HOOD, even after a huge run.
3. But insiders are selling aggressively
While institutions buy, insider selling has been intense:
- Quiver Quantitative’s insider tracker shows 110 open‑market insider trades in the last six months — 109 sales and only 1 purchase. [11]
- Over that period, co‑founders Vlad Tenev and Baiju Bhatt have together sold more than 10.9 million shares, cashing out well over $1.2 billion, alongside heavy selling from other top executives. [12]
- MarketBeat estimates that in just the last quarter, insiders unloaded about 3.97 million shares worth roughly $505.7 million, including a 418,000‑share sale by Bhatt. [13]
A new piece syndicated by Simply Wall St and pushed through Yahoo Finance adds nuance: despite selling at much higher prices earlier in the year, insiders are still estimated to hold around US$111 million worth of HOOD stock, suggesting they’ve taken profits but not exited entirely. [14]
For investors, this split picture — institutions buying, insiders selling — is one of the most important signals to watch.
4. HOOD flagged as a “stock of the week” after 19% surge
An Investing.com “stocks of the week” round‑up, updated November 29, lists Robinhood alongside Nvidia, Dell and others after HOOD rallied more than 19% in a single week. [15]
The piece highlights Robinhood’s announcement that it will acquire 90% of MIAX Derivatives Exchange (MIAXdx) in partnership with Susquehanna International Group (SIG), emphasizing that MIAXdx comes with a suite of licenses — DCM, DCO and SEF — that will allow the joint venture to build out a regulated prediction‑markets and derivatives exchange. [16]
5. TS2.tech: Robinhood’s 300% 2025 rally and valuation debate
A detailed feature on TS2.tech published November 29 frames Robinhood’s story this way:
- HOOD closed Friday at $128.49, up roughly 242% over the last 12 months and trading within a 52‑week band of $29.66 to $153.86. TechStock²+1
- The stock has effectively tripled from the low‑$30s to above $150 in 2025, making it one of the top S&P 500 gainers of the year. TechStock²+1
- Q3 results confirmed a “breakout year,” with revenue doubling year‑over‑year to about $1.27 billion and net income surging, while October operating data showed sharp increases in trading volumes, crypto activity and margin balances. TechStock²+2Nasdaq+2
- TS2.tech notes that HOOD trades at a steep premium to traditional brokers, pointing to valuation estimates in the 40–60× earnings range and consensus fair‑value models clustering near $150+ per share. TechStock²+2MarketBeat+2
6. “Unstoppable stocks” narrative continues
A new article syndicated by Motley Fool via Nasdaq on November 29 groups Robinhood with two other names as “unstoppable stocks” on track for a third straight year of 50%‑plus returns. It notes that:
- Robinhood shares rose 57% in 2023,
- then 193% in 2024,
- and are up about 209% in 2025 through November 21. [17]
The piece argues that Robinhood has evolved into a one‑stop platform for trading, crypto and now prediction markets, and positions HOOD as a high‑growth fintech rather than a meme‑stock relic.
Prediction markets and the MIAXdx / LedgerX deal: the new growth engine
The centerpiece of Robinhood’s latest rally is its move from being a distributor of prediction‑market contracts to becoming a full market‑infrastructure player.
On November 25, Robinhood and Susquehanna International Group announced a deal to acquire a 90% stake in LedgerX and MIAX Derivatives Exchange (MIAXdx) from Miami International Holdings, with MIAX keeping 10%. LedgerX is a CFTC‑regulated derivatives exchange and clearinghouse originally acquired from the FTX bankruptcy estate in 2023. [18]
According to Reuters and CoinDesk:
- The transaction is expected to close in the first quarter of 2026, with the new futures and derivatives exchange launching later that year. [19]
- Robinhood plans to use MIAXdx’s licenses to list contracts tied to sports, macroeconomic data, elections and other real‑world events, alongside crypto derivatives like bitcoin and ether. [20]
- Wall Street firm Bernstein estimates Robinhood already generates over $300 million in annual recurring revenue from prediction markets, with more than 9 billion contracts traded by over 1 million users — largely in partnership with Kalshi. Owning an exchange could let Robinhood keep more of the economic “fee pool.” [21]
Investor reaction has been swift. Multiple outlets report that HOOD jumped 8–11% on the news, at one point topping the S&P 500’s daily gainers list. [22]
If prediction markets continue to gain regulatory traction in the U.S. — a trend helped by a federal court striking down a prior CFTC prohibition on election betting — Robinhood’s move from front‑end app to exchange operator and clearinghouse could prove to be one of the most important pivots in its history. [23]
Fundamentals: Q3 2025 blowout and a bigger, more diversified Robinhood
The latest quarter helps explain why institutions are comfortable buying HOOD above $100.
Q3 2025 headline numbers
For the quarter ended September 30, 2025, Robinhood reported:
- Revenue: ~$1.27 billion, up from $637 million a year earlier — roughly 100% year‑over‑year growth. [24]
- Net income: about $556 million, nearly quadruple last year’s profit, according to Reuters. [25]
- EPS:$0.61, beating the Zacks consensus estimate of $0.51 and topping last year’s $0.17. [26]
Zacks notes that Robinhood has now beaten consensus EPS and revenue estimates in four straight quarters, and the stock has gained about 267% since the start of the year. [27]
A QuiverQuant summary of management’s slides and commentary adds that platform assets are up roughly 115% year‑on‑year to around $343 billion, reflecting surging account balances and margin use as trading activity accelerates. [28]
Revenue mix: trading, interest and subscriptions
TradingKey’s deep dive into Robinhood’s Q3 report breaks down the $1.274 billion in revenue roughly as follows: [29]
- Trading revenue — ~$730M (~57%)
- Options remain the largest contributor, followed by crypto and equities.
- Net interest income — ~$302M (~24%)
- Driven by cash management, margin loans and interest on assets.
- Subscription revenue — ~$114M (~9%)
- Mainly from Robinhood Gold, which now counts almost 4 million paying subscribers.
Other data from Google Finance and S&P Global show that Robinhood serves about 27–28 million funded customers and oversees roughly $280–300+ billion in assets under custody, depending on the snapshot date. [30]
The takeaway: Robinhood is no longer just a zero‑commission stock app living off payment for order flow. It now has multiple profit engines — trading, interest income, subscriptions and, increasingly, prediction markets and tokenized assets. [31]
From meme stock to S&P 500 heavyweight
Another milestone that underpins the 2025 rally: S&P 500 inclusion.
On September 5, 2025, S&P Dow Jones Indices announced that Robinhood would join the S&P 500, replacing Caesars Entertainment, with the change effective September 22. [32]
The news triggered a sharp move:
- HOOD jumped 7–15% around the announcement, as index funds and ETFs tracking the S&P 500 were forced to add the stock. [33]
S&P Global’s follow‑up research piece notes that transaction‑based revenue — especially options and crypto trading — remains Robinhood’s largest income stream, but forecasts continued growth as the firm leverages its enlarged brand and user base. [34]
For many institutions, S&P 500 inclusion makes HOOD a benchmark stock, not a speculative side bet.
Analyst views, price targets and valuation debate
Valuation is where opinions on HOOD start to diverge sharply.
Wall Street targets
QuiverQuant’s aggregation of recent Wall Street research shows: [35]
- 18 analysts have issued price targets in the last six months.
- The median target is about $149 per share.
- Recent high‑profile targets include:
- $180 from Citizens (Nov. 7)
- $172 from Mizuho (Nov. 6)
- $168 from Barclays (Nov. 6)
MarketBeat’s institutional holdings reports cite an average target in the mid‑$130s to low‑$150s and describe consensus as around “Moderate Buy.” [36]
Yet Zacks currently rates HOOD only a Rank #3 (Hold) despite acknowledging its outsized share‑price performance, signalling that some models view the stock as fairly valued for now. [37]
Valuation metrics
Recent snapshots from MarketBeat, TradingView and Google Finance show: [38]
- Market cap: ~$115–116 billion
- Trailing P/E ratio: ~53×
- P/E/G ratio: around 2.8–2.9
Meanwhile, value‑focused site GuruFocus estimates Robinhood’s weighted average cost of capital (WACC) at roughly 23%, versus a return on invested capital (ROIC) of ~10–11%, implying that — at least on backward‑looking numbers — the company’s returns don’t yet fully clear its cost of capital. [39]
For bulls, these rich multiples are justified by rapid growth, new product lines and the potential for HOOD to become a global “financial super‑app.” For skeptics, HOOD looks “priced for perfection” in a business still heavily tied to market cycles and regulatory whims.
Risk factors: regulation, cyclicality and competition
Even as HOOD rallies, several risk themes keep showing up across filings and analysis.
1. Regulatory overhang
Robinhood’s compliance record remains under a microscope:
- In January 2025, two Robinhood subsidiaries agreed to pay $45 million in SEC penalties over issues including record‑keeping failures, mis‑marked short sales and anti‑money‑laundering weaknesses dating back to 2018. [40]
- In March 2025, Robinhood agreed to a $26 million FINRA settlement plus $3.75 million in restitution for failings related to social‑media promotions, customer identity verification and prior reporting issues — on top of earlier SEC and FINRA fines in 2020–2021. [41]
As Robinhood pushes deeper into prediction markets, crypto, tokenization and global expansion, the regulatory stakes only rise. Changes to rules around payment for order flow (PFOF), event contracts or crypto custody could materially affect margins and growth. [42]
2. Sensitivity to market cycles
Analysts and management alike characterize Robinhood as highly leveraged to bull markets in U.S. stocks and cryptocurrencies:
- Reuters’ Q3 coverage notes that profit “nearly quadrupled” as retail traders chased momentum in growth stocks and crypto. [43]
- TradingKey warns that Robinhood’s financial performance is “highly correlated” with market volatility and speculative activity; a prolonged downturn in equities or crypto would likely hit transaction‑based revenue hard. [44]
Prediction markets add another layer of cyclicality, potentially booming around major political or sporting events and cooling in quieter periods.
3. Competitive pressure
Robinhood now faces competition on multiple fronts:
- Traditional brokers like Charles Schwab and Fidelity in low‑cost investing.
- Crypto exchanges like Coinbase and Binance in digital assets.
- Prediction‑market specialists such as Kalshi and Polymarket in event contracts. [45]
Robinhood’s advantage is its large, young, mobile‑native user base and its ability to cross‑sell new products (retirement accounts, credit cards, tokenized assets, social trading features) inside one app. Whether that moat holds will depend on execution and regulators’ tolerance for ever‑more complex products being offered to retail traders.
What all this means if you’re watching HOOD now
Putting the November 29 news together, Robinhood’s stock story today sits at the intersection of explosive growth, structural shifts and elevated risk:
- The bull case:
- Revenue and profits are scaling rapidly, with Q3 doubling revenue year‑on‑year and net income surging. [46]
- Prediction markets and the MIAXdx / LedgerX deal could turn a fast‑growing product into a long‑term infrastructure business with higher margins and more control over economics. [47]
- S&P 500 inclusion has broadened the shareholder base, and big institutions like Norges Bank, Vanguard and others have taken large stakes. [48]
- The bear (or caution) case:
- The stock already trades at premium multiples, with P/E above 50 and growth expectations embedded in the price. [49]
- Insiders have sold heavily into the rally, even if they still retain meaningful holdings. [50]
- Regulatory, market‑cycle and competitive risks remain significant, especially as Robinhood pushes into sensitive areas like prediction markets and tokenized securities. [51]
For anyone evaluating HOOD, the key questions now are less about “Can Robinhood grow?” — recent results suggest it can — and more about “How much of that growth is already priced in?” and “How comfortable am I with the regulatory and volatility risks that come with this kind of business?”
Final note
This article is for information and news purposes only and does not constitute financial advice, investment recommendation or a solicitation to buy or sell any security. Always do your own research and consider speaking with a qualified financial adviser before making investment decisions.
References
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