TLDR
- Robinhood said it will cut 10% of its full-time workforce on Tuesday
- HOOD stock closed up 5.2% at $98.08, adding to a 6.4% gain five days earlier
- Analysts at Deutsche Bank, Cantor Fitzgerald, and Goldman Sachs all raised price targets
- The 2026 FIFA World Cup prediction markets could generate $5B–$10B in volume, per one analyst estimate
- Platform assets hit $377 billion in May, up 48% year-over-year, with 27.7 million funded customers
Robinhood (HOOD) stock closed up 5.2% at $98.08 on Tuesday after the company announced it would cut 10% of its full-time workforce. The move came on the same day a wave of bullish analyst actions and strong operating data gave investors more reasons to buy.
The stock has now posted back-to-back big moves. Five days ago it gained 6.4% after receiving regulatory approval for its securities division to act as an underwriter for initial public offerings. That was a step up from its previous role as a distributor, and it opens the door to higher-fee revenue.
Despite the recent gains, HOOD is still down 15% year-to-date and sits 35.8% below its 52-week high of $152.46, hit in October 2025.
World Cup Prediction Markets in Focus
One of the bigger catalysts driving excitement around the stock right now is the 2026 FIFA World Cup. Robinhood’s prediction markets platform is expected to see heavy activity around the tournament, with one analyst putting potential volume at $5 billion to $10 billion. That’s a wide range, but the top end would be a material number for the platform.
Deutsche Bank, Cantor Fitzgerald, and Goldman Sachs all raised their price targets on the stock this week, pointing to the World Cup opportunity as one reason for their optimism.
An insider also put real money behind the thesis, purchasing $20 million worth of HOOD stock in early June.
May Operating Data Held Up Well
Robinhood’s May operating numbers gave the bull case some grounding. Total platform assets grew 48% year-over-year to $377 billion. Equity trading volumes rose 75%. Funded customers reached 27.7 million.
Those are not small numbers. And they came before the World Cup kicked off, meaning the prediction market volume hasn’t fully hit the books yet.
The workforce cut announced Tuesday adds a cost-discipline angle to the story. Reducing headcount by 10% is a meaningful move for a company still working to improve its margins.
Crypto also provided a boost. Bitcoin climbed to a near two-week high, lifting crypto-linked names including Robinhood.
For context on just how volatile this stock is — HOOD has moved more than 5% on 48 separate occasions in the past year alone. Tuesday’s move fits the pattern.
The company’s approval to underwrite IPOs, granted recently, marks a structural change in how it can generate revenue from the capital markets side of its business.
Investors who bought $1,000 worth of HOOD at its July 2021 IPO would now be sitting on approximately $2,812.
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