May 7, 2024 - Economy

Charted: πŸš€ Can HOOD meme again

Line chart showing Robinhood's stock price Daily from Jan. 3, 2022, to May 6, 2024. It began at $18.44. It significantly dropped, staying between $14 and $6 from June 2022 to January 2024. It began to recover from there and by May 6, 2024, it was $17.78.
Data: Yahoo Finance;Β Chart: Tory Lysik/Axios Visuals

Robinhood used to be a meme stock, but it hasn't seen a moon since its IPO year.

πŸ’­ Our thought bubble: Attention from a regulatory battle might help.

Fun fact: Coinbase's shares (COIN) has gained 286% since the SEC's lawsuit landed on June 6, and bitcoin was up just 146% over that time.

  • Bitwise Asset Management's Matt Hougan said yesterday Coinbase was seeing the added benefit of a "hostile regulatory environment" as an "artificial moat" for its business.
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