Robinhood Stock Jumps on News of Trading Volume SurgeMonitor This Key Chart Pattern [Video]

Robinhood Markets (HOOD) shares traded more than 12% higher ahead of Thursday’s opening bell after the app-based commission-free brokerage reported a surge in February trading volume as retail traders flocked to the markets to capitalize on surging technology stocks and rapidly rising cryptocurrency prices.

The online brokerage firm synonymous with the pandemic-era meme stock frenzy reported $80.9 billion in equity trading volume during February, representing a 36% increase from January and 41% rise from February of 2023. Options contracts traded in the period rose 12% from January and 33% versus the year-ago month to $119.1 million, while cryptocurrency volume last month totaled $6.5 billion, representing a 10% improvement from January and 86% rise from February of 2023.

Meanwhile, the company’s total net assets under custody for the month swelled 16% from January to $118.7 billion. Net deposits in the period decreased $200 million from the prior month to $3.6 billion but were up from $1.5 …