What's Going On With Robinhood Markets Stock?

Robinhood Markets, Inc. HOOD shares are trending and climbing on heavy trading volume Wednesday. Here's a look at what's going on:

What To Know:

Shares of HOOD are moving on heavy trading volume with more than 30 million shares already traded in the session. According to data from Benzinga Pro, the stock's 100-day average volume is 7.934 million shares.

On Monday, Cathie Wood's ARK Fintech Innovation ETF ARKF added 14,702 shares of Robinhood Markets.

Earlier this week, Robinhood reported that customers contributed roughly $1.4 billion of net deposits in November, according to an SEC filing.

HOOD is currently listed as one of the top trending tickers on Stocktwits and WallStreetBets.

According to data from Benzinga Pro, shares of HOOD are trading above the stock's 50-day moving average of $9.11 and near its 52-week high of $13.23.

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HOOD Price Action: According to Benzinga Pro, Robinhood Markets shares are up 7.17% at $11.29 at the time of publication.

Image: Karsten Bergmann from Pixabay