Robinhood's 175% rally this year is best among U.S. tech stocks

Earlier this month, monitoring software company Datadog was added to the benchmark index as part of its quarterly change

Analysts expect the company to report revenue growth of 33% from a year earlier to $908 million, according to LSEG, with jected earnings per of 31 cents.Adjusted earnings are expected to come in at $448 million, according to StreetAccount.The rally reflects Robinhood's transformation from a U.S. retail broker into a global fin and crypto infrastructure platform.While U.S. fin funding fell 42% in the first half of 2025, according to Tracxn's semiannual report, dealmaking accelerated, and Robinhood stands out as one of the most notable buyers.watch now2:4302:43Robinhood hits record high as OpenAI, SpaceX go on-chainPower LunchIn June, Robinhood acquired Bitstamp for $200 million, gaining institutional trading rails, custody services, and more than 50 active licenses

In May, it agreed to buy Canadian crypto platform WonderFi for $179 million, expanding its regulatory foot across North America.Robinhood is finding significant traction in Europe, where the company has begun rolling out tokenized stocks and exchange-traded funds, including synthetic s of OpenAI and SpaceX, using blockchain.The token launch this month came alongside a broader crypto push announced at Robinhood's Cannes summit, where the company also disclosed plans for its own layer-2 blockchain optimized for real-world asset settlement

It also announced 24/7 trading and staking for Ethereum and Solana for its U.S. customers, a feature that allows users to earn rewards by supporting network operations.Other enhancements allow users to tap more leverage for crypto investments and use tools that help minimize capital gains payments and get more advanced charting.Analysts at Mizuho raised their price target on the stock to $99 ing the launch in France, citing the company's "unmatched duct velocity" and availability in more than 30 countries in Europe.'We expect to be scrutinized'There are potential regulatory hurdles to some of Robinhood's efforts

Regarding the tokenized trading, the Bank of Lithuania, Robinhood's lead regulator in the European Union, said it's "awaiting clarifications" on the duct

But in the U.S., SEC Chair Paul Atkins called the model "an innovation" on CNBC's "Squawk Box."Robinhood CEO Vlad Tenev told CNBC after the announcement that he is "happy to continue to answer questions from our regulators," and said the company built its tokenized stock gram to withstand scrutiny."Since this is a new thing, regulators are going to want to look at it," he said. "And we expect to be scrutinized as a large, innovative player in this space."Robinhood declined to for this story.In its first-quarter earnings announcement in late April, Robinhood reported a 77% increase in transaction-based revenue to $583 million

Crypto trading revenue doubled to $252 million, options revenue rose 56% to $240 million and revenue from equities increased 44% to $56 million.This quarter, analysts are watching how that momentum holds up.Analysts at Cantor Fitzgerald said in a note last month that it sees Robinhood continuing to gain from larger brokers Charles Schwab and Interactive Brokers, as well as from crypto exchanges such as Coinbase