On August 21, Robinhood rose 6.28% in regular trading, trading at $100.23 per share with turnover of $453 million, marking a notable acceleration from the 3.13% pre-market gain earlier in the session.

The rally is driven by multiple catalysts. Robinhood's second closed-end fund, RVII, completed its IPO pricing on August 14, issuing 8 million shares at $25 per share for a total fund size of $225.5 million, with potential expansion to $255.5 million if underwriters exercise their full option. Goldman Sachs served as lead bookrunner. CFO Shiv Verma indicated the company will accelerate the cadence of publicly traded closed-end fund launches, enabling retail investors to access private market opportunities more conveniently.

Additionally, Robinhood Chain has accumulated $5 million in fee revenue within just over one month of launch, demonstrating strong early traction for its on-chain infrastructure business. CEO Vlad Tenev recently stated the company is at the beginning of a tokenization supercycle that will transform the entire financial system. Goldman Sachs raised its target price on Robinhood from $118 to $123, maintaining a Buy rating.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)