Robinhood Stock Climbs Despite Regulatory Challenges

Despite a cease-and-desist order from Connecticut regulators, shares of Robinhood Markets Inc. saw an upward trend this week, closing Thursday at $137.08 per share, up 2.57%. The company faces scrutiny for its prediction market operations, which the state deemed to lack proper licensing, according to regulatory letters. However, Robinhood maintains that it operates as a financial technology firm rather than a bank, with customer deposits held through a partner bank offering FDIC coverage.