HOOD is trading at $76.57 (-5.21%) today, reversing yesterday's surge on venture fund filing news as hotter-than-expected inflation data and crypto weakness pressure the stock.
- April CPI hit 3.8% YoY, higher than the 3.7% forecast, significantly reducing hopes for Federal Reserve rate cuts.
- Crypto market volatility is adding pressure, with BTC down 2.40% and ETH down 3.45% since the last close, likely impacting retail trading volumes.
- The broader market selloff is amplifying the reversal, with the NASDAQ down 1.96% during a volatile trading session.