BUZZ-Robinhood rises after Reuters report of Massachusetts probe into co's prediction marketplace

Reuters

03-25

BUZZ-<a href="https://laohu8.com/S/HOOD">Robinhood</a> rises after Reuters report of Massachusetts probe into co's prediction marketplace

** Shares of retail trading platform Robinhood HOOD.O rise 8.1% to $47.96

** Massachusetts' top securities regulator is investigating HOOD's decision to launch a prediction-markets hub for betting on events like March Madness, Reuters reports

** Event contracts let traders bet on specific outcomes, providing opportunities to profit from predictions in sports, entertainment, politics and the economy

** HOOD says the event contracts it offers are regulated by the U.S. Commodity Futures Trading Commission and offered through CFTC-registered entities

** 13 out of 20 brokerages rate the stock "buy" or higher, 7 rate "hold" and their median PT is $70, as per LSEG data

** Including session's moves, HOOD stock up 28.5% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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