Key Takeaways
- HOOD shares finished Thursday’s session 11% higher at $84.84 following the Trump Account app rollout.
- Approximately six million American families have enrolled in Trump Accounts, set to become active on Independence Day.
- The trading platform developed the Trump Account application and will function as the original trustee.
- Shares received additional support from the previous day’s announcement of agentic trading capabilities allowing AI to execute trades for users.
- Investment firm Mizuho increased HOOD’s price objective from $110 to $115 while keeping its Outperform stance.
Shares of Robinhood (HOOD) advanced 11.29% to settle at $84.84 Thursday following the Treasury Department’s confirmation that the Trump Account application — developed by Robinhood — is now accessible for download.
The rally wasn’t attributed to a single factor. Mizuho’s Dan Dolev explained to Barron’s that the surge appears to be “likely a combination of both Trump accounts excitement, the agentic trading news from yesterday as well as hopes of peace in the Middle East.”
Approximately six million American households have registered for Trump Accounts. This represents an increase from the five million count disclosed on tax filing day. Full account activation is scheduled for the Fourth of July.
Initial activation notifications have begun arriving from no-reply@trumpaccounts.treasury.gov, with additional waves planned over the next several weeks for all participants who submitted IRS Form 4547.
Robinhood has processed registrations since February, when households gained the ability to submit the specialized form during tax season.
The Treasury Department earlier disclosed that Bank of New York Mellon (BNY) would function as the federal government’s banking representative for these accounts. BNY stock inched up less than 1% Thursday.
The brokerage firm operates as both the investment platform and original trustee for Trump Accounts. Management previously indicated the agreement was “contracted on a cost plus basis with a small margin.”
Initial implementation expenses totaled less than $14 million, according to company statements. The firm also announced plans to allocate an additional $100 million toward developing and maintaining the platform’s user experience moving forward.
AI Agent Trading Provides Additional Catalyst
One day prior to the Trump Account debut, Robinhood revealed plans to enable customers to link AI agents directly to their trading accounts. These automated agents can execute transactions and process credit card payments on behalf of account holders.
That development alone lifted HOOD nearly 3% during Wednesday’s trading. Thursday’s advance compounded those gains.
The back-to-back announcements provided the stock with substantial upward momentum entering the extended holiday weekend.
Year-to-Date Performance Remains Negative at 25%
Notwithstanding Thursday’s rally, HOOD remains down 25% since January. The decline has been primarily attributed to reduced cryptocurrency trading volumes.
During April’s earnings report, the company disclosed that crypto-related trading revenue had declined 47% to $134 million.
Depressed digital currency valuations have dampened trading activity, creating headwinds for the stock throughout 2026.
Mizuho elevated its HOOD price objective to $115 from $110 Thursday, maintaining its Outperform designation. FactSet data shows the consensus analyst price target stands at $101.04, with an average overweight recommendation.
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