Robinhood Markets, Inc. (NASDAQ:HOOD) stock has been in the spotlight with a potential bond sale backed by credit card receivables, recent bullish analyst activity and a notable technical setup all drawing attention Thursday.
- Robinhood Markets stock is taking a hit today. What’s weighing on HOOD shares?
Robinhood’s Asset-Backed Bond Sale
Bloomberg reported this week that Robinhood is looking to sell at least $400 million of asset-backed securities in four parts, with the total offering potentially reaching as large as $500 million. The bond would reportedly be backed by bills for its consumer credit cards. Initial price talk on the deal’s highest-rated portion is a premium of about 0.8 percentage points over the benchmark, according to the report.
The fundraising effort comes as Robinhood pushes beyond its core brokerage business and deeper into credit cards. The company launched a $695 platinum-plated card in March to compete with American Express, two years after debuting its no-fee Gold Card.
Analysts Lift HOOD Targets
Robinhood stock carries a consensus Buy rating with an average price target of $112.53. Recent analyst moves include a string of price target increases.
- Morgan Stanley: Equal-Weight (Raises Target to $124.00) (July 10)
- Barclays: Overweight (Raises Target to $122.00) (July 9)
- Mizuho: Outperform (Raises Target to $130.00) (July 2)
Bullish Structure, Fading Momentum
From a trend perspective, Robinhood is still in a constructive posture: it’s trading 2.8% above its 20-day SMA ($107.80) and 19.6% above its 50-day SMA ($92.66), which typically keeps dip-buyers interested. It’s also 8.7% above the 200-day SMA ($101.95), a level many longer-term traders use as a "line in the sand" for trend health.
Momentum is the bigger question right now, and MACD is the cleaner read: MACD is below its signal line with a negative histogram, which points to upside pressure fading versus the prior upswing. In plain English, when MACD sits under its signal line, it often means rallies are losing steam unless buyers can quickly reassert control.
The longer-term backdrop is still mixed because the 50-day SMA remains below the 200-day SMA (a death cross occurred in February), even though the shorter-term 20-day SMA is above the 50-day SMA (bullish). That combination often produces choppy "two steps forward, one step back" action where pullbacks can be sharp but still occur inside a broader uptrend.
- Key Resistance: $120.50 — a nearby pivot area where rebounds can stall, sitting just above current price and near a round-number zone traders tend to defend
- Key Support: $93.00 — a prior buyer-defense area that also lines up closely with the 50-day SMA region ($92.66), making it a key level if the pullback deepens
Robinhood Shares Edge Lower
HOOD Price Action: At the time of publication, Robinhood shares are trading 3.35% lower at $111.65, according to data from Benzinga Pro.
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