Shares rose 5.48% to $88 as May operating data showed $315 billion in stock trading volume, while a fund tied to director Meyer Malka bought more than $55 million of stock over the past week.
Goldman Sachs analyst James Yaro maintained a buy rating on Robinhood and raised the target price to $108 on June 10. Robinhood shares were up 5.48% intraday to $88, while May operating data showed stock trading volume of $315 billion, up 27% month over month and 75% year over year. A fund linked to director Meyer Malka also bought more than $55 million of shares over the past week, adding to signs of investor confidence in the retail trading platform.