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The Zacks Analyst Blog Coinbase, Robinhood Markets and Interactive Brokers
Bitcoin Flirted With $100,000. Can It Rise Higher?
Watch These Robinhood Price Levels as Stock Hits 3-Year High After Upgrade
U.S. stocks closed higher with all three major indices rising. The Dow, S&P, and Russell 2000 all hit record highs, while nvidia fell more than 4% against the market; bitcoin fell below $93,000, while microstrategy dropped more than 4%.
Funds continue to flow out of the technology sector, rotating into cyclical stocks. The Dow rose more than 400 points, while the Russell small cap stocks rose by 2.5% at one point. The S&P hit a new intraday high before narrowing its gains. Nvidia dropped over 4% to a three-week low, Tesla fell by nearly 4%, Nio dropped by 3.6%, but Alibaba rose by nearly 3%.
Dow and Small-Caps Close at New All-Time Highs
Robinhood (HOOD.US), one of the 'biggest beneficiaries of the election results,' received a significant target stock price increase from Goldman Sachs.
Analysts believe that the recovery of investor sentiment and the Trump administration's friendly stance towards cryptos are important driving forces for Robinhood's development.