Shares of Robinhood Markets surged to $115.39, up 6.2%, on July 2 as investors piled in following a sweeping international expansion announcement and renewed Wall Street enthusiasm. The stock has climbed roughly 23% in just five trading days, from $93.47 on June 25 — a velocity that raises the question of whether execution can match the euphoria.
A London Event Packed With Global Ambitions
Robinhood announced plans to accelerate its global expansion with a flurry of initiatives at a keynote in London on July 1. The company launched its own public blockchain, bringing tokenized stock trading live in more than 120 countries.
Eligible investors across 30 European countries gained access to perpetual contracts — derivatives with no expiration date — tracking commodities, ETFs, and currencies with up to 10x leverage.
Robinhood also officially launched in Canada following its $180 million acquisition of WonderFi , and is planning to launch crypto in the UK soon. For shareholders, each new market is a potential new revenue stream at a time when the company desperately needs to diversify beyond U.S. retail trading.
Crypto Revenue Crashed Last Quarter — This Expansion Is the Fix The urgency is real. Cryptocurrency revenue fell 47% year-over-year to $134 million in Q1 , while total revenue hit $1.07 billion, up 15%, as crypto weakness offset gains in equities, options, and prediction markets. International crypto trading, EU derivatives, and a stablecoin lending product offering an estimated 7% yield are all designed to rebuild that lost revenue pillar. The bet: global reach can smooth out the boom-bust cycles of a single-market crypto business.
Wall Street Is Cheering — But the Stock Already Leapfrogged the Targets
Argus raised its price target to $110 from $90 while maintaining a Buy rating.
Cantor Fitzgerald went further, lifting its target to $130. Yet at $115.39, HOOD already trades above the $105 consensus target cited by multiple aggregators. Analysts project EPS declining 11.7% to $1.81 in fiscal 2026, followed by a 35.4% rebound to $2.45 in 2027. At current prices, the stock trades at roughly 63x this year's projected earnings — a premium that assumes flawless execution on a multi-continent rollout.
A Leaner Workforce, But Bigger Ambitions
Robinhood cut approximately 10% of its workforce — around 290 employees — to streamline operations ahead of the expansion push. The restructuring costs are modest at roughly $28 million, but the real test is whether a smaller team can simultaneously ship a blockchain, expand into four new geographies, and integrate AI-powered trading tools. The stock's momentum is real; the margin for missteps is razor-thin.