Why Robinhood Stock Skyrocketed 29% in May
2026-06-02 06:26:06 ET
Robinhood Markets (NASDAQ: HOOD) stock jumped 29% in May, according to data provided by S&P Global Market Intelligence . The trading company introduced new artificial intelligence (AI) agents to its platform, which got a thumbs-up from the market.
Previously, Robinhood stock had been tumbling. It's highly correlated with the movement of Bitcoin , which plays a major role in its revenue growth. As Bitcoin soared, so did Robinhood stock. But lower Bitcoin prices have led to a sharp deceleration in Robinhood's sales, and the stock has reflected that.
As recently as the 2025 third quarter, revenue was up 100% year over year, driven by a 300% increase in cryptocurrency revenue. In the 2026 first quarter, total revenue increased 15%, and cryptocurrency revenue was down 47%.
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