Robinhood Stock A Pre-Market Gainer as Crypto Prices Rally

Robinhood Markets' stock (NASDAQ: HOOD) is bouncing off a February drop, with a gain of 7.66% through this morning's pre-market session coming on the back of President Trump's comments surrounding potential U.S. crypto reserves.

In the previous month of trading, Robinhood's stock price dropped 3.47%, but this only tells half the story. The first half of February began with a 26% rally, one that faded fast during the second half of the month to leave the stock down.

The company reported a significant surge in revenue, more than doubling in the latest earnings report. This growth is largely attributed to the booming interest in cryptocurrency trading facilitated by Robinhood's platform. Nevertheless, the stock experienced a pullback after a strong rally spurred by the same cryptocurrency trading enthusiasm.

Analysts' price targets remain to the upside, with the consensus price of $68.81 more than $15 higher than the current pre-market action. The volatility after such a weekend can be expected to continue until further clarity is provided, but which way this moves could depend much on the detail.

The cryptocurrency market remains a key driver of Robinhood's growth, drawing in investors interested in digital asset trading. The company has capitalized on this trend, widening its reach to international investors, including those in India. This expansion underscores Robinhood's potential for growth in diverse global markets.

While Robinhood's stock volatility may be concerning for some, the longer term bull trend remains in tact. The stock has gained more than 200% over the past year of trading, and with the first cryptocurrency summit due to take place this Friday, we can expect to find out more about the intentions of the President.