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▲ Robinhood (Robinhood, HOOD)/AI generated image
As Robinhood (Robinhood) accelerates its $180 million acquisition of WonderFi with approval from Canadian regulators, the HOOD stock, which has plunged 42% over six months, has brought back the scenario of a rebound to $84.
According to crypto media CoinGape on May 26 (local time), Canadian regulators have approved Robinhood's acquisition of crypto company WonderFi. The acquisition is valued at $180 million, and the deal is expected to close on June 1.
CoinGape reported that after HOOD stock fell 42% over the past six months, it rose 0.8% to $74 at the time of writing, following the approval news. Robinhood generated $1.14 billion in revenue from January to March this year, falling short of Wall Street's expectation of $1.4 billion. Diluted earnings per share were also $0.38, below Wall Street's forecast of $0.40.
This acquisition of WonderFi is seen as another cryptocurrency bet in Robinhood's expanding investment trend for 2026. CoinGape reported that Robinhood is expanding its capital allocation into the cryptocurrency and growth technology sectors, following its $75 million investment in OpenAI in April 2026 and now pursuing the WonderFi acquisition.
Technically, the 50-day simple moving average of $76 has been presented as a key baseline. After falling below this line on April 28, HOOD has been moving in a narrow range, attempting to re-break $76. CoinGape analyzed that if three consecutive candles close above $76, HOOD could break out of its consolidation phase and head towards the 100-day simple moving average of $84.
However, the Relative Strength Index (RSI) is 43, indicating a bearish trend. CoinGape believes that bullish catalysts, such as the WonderFi acquisition, need to continue for buying pressure to return. A forecast was presented that if the upward trend is maintained for five trading days until the deal closes on June 1, HOOD could rise to $84.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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