$2M Insider Buy on Robinhood Makes History: Should You Buy HOOD Stock, Too?
Let's break it down.
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Director Christopher Payne just purchased $2 million worth of HOOD shares, according to a recent SEC filing — marking the first-ever insider buy for Robinhood since the company went public. This is especially notable because insider buying is often viewed as a strong signal of confidence in the company's future.
Insider sales are common — they can happen for tax reasons, diversification, or any number of other motivations.
But insider buys — especially of this size — usually mean one thing: Insiders believe the stock is undervalued and poised to move higher.
On the flip side, Director Baiju Bhatt — one of Robinhood's co-founders — sold over $31 million worth of shares during the same period. This could raise eyebrows, but it doesn't necessarily mean trouble.
It's not uncommon for early founders to reduce their exposure over time. And given Robinhood's 200%+ stock rally over the past year, many long-term holders are simply locking in gains.
Robinhood was recently snubbed from joining the S&P 500 Index ($SPX), while competitor Coinbase (COIN) made the cut. This caused a slight dip in price on the news in June. Still, the company is pushing forward with crypto expansion through its acquisition of Bitstamp and WonderFi — and investors haven't stopped buying.
In fact, shares of HOOD recently hit all-time highs, backed by bullish sentiment in both the crypto and fintech sectors.
Barchart's Gamma Exposure Tool for HOOD shows a positive gamma spike at $80 and a major call wall at $85:
This signals aggressive options activity, and potential upside fuel if HOOD breaks through those levels - but traders should expect some resistance.
Learn more about Gamma Exposure here
When you combine:
A $2M insider buy;
Strong call options flow;
A breakout to previous highs; and
Crypto exposure via Bitstamp…
…you get a high-conviction setup for short-term and long-term traders alike.
Want the quick visual breakdown? Watch the HOOD reel now:
Robinhood Insider Trading Activity
Unusual Options Activity on HOOD
Gamma Exposure for HOOD
On the date of publication, Barchart Insights did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com
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