Robinhood shares reach $ 100 as it roars 30% of S&P 500 Snub

Kans – Slavery The action reached the $ 100 brand for the first time, limiting a week of fresh maximums of all time and renewing investors’ confidence. The shares closed 6.12% on Wednesday at $ 97.98.

Shares are now tracking their best performance since April, more than 30% of the trading app is wicked by S&P 500.

The cornerstone follows a large strategic swing in Europe where Robinhood revealed its most ambitious crypto extension To date, a man aimed at reengineering the financial infrastructure itself.

At an event held at a Belle époque mansion on the French Riviera, Robinhood leaders have set out a vision for bringing thousands of tokens, ETF and private shares entirely on the chain.

“This presentation and these products are double,” Executive Director Vlad Tenev told CNBC in CannesS “The first goal is obviously to deliver great consumer products, but I think the second goal is simply to demonstrate very specifically how great it can be if crypto technology and traditional financial services can be merged completely.”

To this end, Robinhood began quietly to build its blockchain using Ethereum Scaling Tech to maintain 24/5 trading. He also started tokeneous shares On Openai and SpaceX – companies that are not publicly listed – to European consumers, noting a change in how and where the retail investors can get an exposure to the best technological names.

“We thought we would just deliver,” Tenev said. “We don’t want to talk a lot. We just want to put a product in the hands of customers.”

Crypto Robinhood General Johan Kerbrat sounded this mood, saying that the company is just starting.

“In the future, we believe that we can expand this to thousands of tokens, which represent different types of financial instruments – from US shares and international shares to private capital,” he said. “What we showed today with SpaceX and Openai is just a look at what we are planning is a lot more.”

Robinhood revenue increased by 50% compared to the year through Q1And the company this week is launching betting in the US, a feature that was previously blocked by regulators.

Watch: Robinhood Crypto GM discusses the launch of digital assets for admissible US Customers