In Monday’s Blitz Daily with Lance Ippolito, we take another look at trading platform Robinhood Markets after buyout rumors surface...
This past week, we saw Robinhood stock soar as part of a massive short squeeze in growth names…
But while other junk names are slowing down Monday, shares of HOOD are climbing again after rumors of a potential acquisition by crypto exchange FTX hit the headlines Monday.
The news helped propel shares of the online broker to a high of $9.72 Monday — an 21.5% jump from Friday’s closing price — launching another round of big institutional buying before getting halted late Monday afternoon!
Right as I entered my trade room, bullish traders reached deep into their pockets and shelled out over $275,000 in premium for more than 3,400 contracts of the Aug. 19 expiration, $9 strike calls!
This is why we trade order flow!
And that’s not the only name seeing incredible buying Monday…
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