Stocks of financial services firm Robinhood (NASDAQ:HOOD) jumped 9.9% in the afternoon meeting after the stock rebounded (Nasdaq +2.0% +2.0% and S&P 500 +1.5%), the Wall Street Journal reported that the Trump administration’s reciprocity tariffs will be announced on April 2, 2025. Market reactions suggest that investors see it as the economic impact of tariffs, especially on inflation and growth, may not be as bad as they initially feared.
This is a bit gratifying, which likely provides some space for businesses and analysts to rethink their own prospects. Earlier, the government hinted at wider tariffs that could hit any country that imports currencies in the U.S., so the shift could be a welcome surprise for the market.
In addition, stocks related to digital assets rise with sentiment in the cryptocurrency space, reflecting the appetite of risky assets. It is worth noting that after falling to $79,000 earlier this month, Bitcoin is the largest cryptocurrency in market capitalization, accounting for $90,000 of its share price of $90,000.
Additionally, the crypto industry achieved a remarkable victory last week, when Ripple CEO Brad Garlinghouse announced that U.S. regulators had dropped four-year cases against the company. The lawsuit stems from the fact that Ripple raised $1.4 billion in fundraising by selling XRP tokens, which had previously classified them as securities, allowing them to comply with strict securities rules. However, it seems that some of these measures are relaxing.
In context, Ripple is the third largest cryptocurrency in market capitalization when this news hits. This is huge because it means that many traders and investors may be exposed to it. When major tokens like this are regulated to alleviate, it can enhance positive sentiment in the wider cryptocurrency market.
The stock closed at $48.33, up 8.9% from its previous closing price.
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Robinhood’s stock is very volatile, with more than 5% action in the past year. In this case, today’s moves suggest that the market thinks the news makes sense, but does not fundamentally change its perception of the business.
The previous step we wrote was 5 days ago when the stock received a 5.7% stake in the news that the stock began to cover the stock and gave a buy rating with a price target of $61. Target price suggests a potential 45% upside potential, starting with stock trading before starting.
