Robinhood (HOOD) Stock Up 6.5% on $200M Bitstamp Buyout Deal
HOODRobinhood(HOOD) ZACKS·2024-06-07 18:46

On Thursday, Jun 6, Robinhood Markets, Inc. (HOOD) announced that it has inked a deal to buy Luxembourg-based cryptocurrency exchange Bitstamp for $200 million. Robinhood’s shares jumped 6.5% on the news during the trading session.Bitstamp, founded in 2011, is the world’s longest-running crypto exchange and is licensed to do business in all European Union states, among other countries. This acquisition will help Robinhood Markets gain a strong foothold in the European and Asian markets and get it into the l ...