Robinhood Markets shares reversed an earlier 5.77% premarket gain to $101.30 and were later down 1.32% at $94.51 on Thursday, according to Benzinga Pro data. The Nasdaq fell 0.56% and the S&P 500 lost 0.37%. Crypto-related stocks gained momentum after a White House cryptocurrency policy summit that included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins and executives from Coinbase Global, Robinhood, Ripple and Kalshi. President Donald Trump reiterated his support for U.S. leadership in cryptocurrency and urged Congress to pass the CLARITY Act, which is intended to establish regulatory standards for digital assets. The stock also drew attention on X after a CNBC panel discussed Tom Lee, who recently named HOOD a stock to avoid in 2026. Fundstrat Global Advisors co-founder Lee is also Chairman of the Board of Bitmine Immersion Technologies and is known for frequently bullish market views, particularly on Ethereum. Mark Newton, Fundstrat’s Global Head of Technical Strategy, said HOOD’s ranking came from a monthly technical review and was not necessarily a short or avoid recommendation. He said the chart was in consolidation and that its fundamentals could take time to materialize.