Jim Cramer has one-word response as Robinhood stock surges toward S&P 500
Jim Cramer has one-word response as Robinhood stock surges toward S&P 500 originally appeared on TheStreet.
Robinhood is back in the spotlight, and it's not just traders who've noticed. CNBC's Jim Cramer had a one-word reaction on X: 'Memed.'
The post came as Robinhood Markets (HOOD) hit $72.27, with pre-market data showing it climbing another 2% to $73.75. The spike follows growing speculation that Robinhood could soon be added to the S&P 500 Index — a move that would force passive investment funds to buy shares, possibly pushing the price even higher.
Bank of America analysts on Wednesday named Robinhood a 'prime candidate' for the upcoming S&P 500 rebalancing, citing a meeting among investors about index changes for financial stocks.
'We expect significant buying activity from passive funds,' the report stated, noting that companies added to major indices often experience 'significantly higher interest from long-only portfolio managers.'
Robinhood, which initially rose to prominence as the app of choice for retail traders during the GameStop short squeeze in 2021, has since leaned deeper into crypto. The platform now offers trading for Bitcoin, Ethereum, and a host of other cryptocurrencies, positioning itself as a simplified alternative to more advanced exchanges.
Its crypto arm has grown notably over the past year as the digital asset market rebounded. With Bitcoin trading above $100,000 and meme coins exploding on Solana, Robinhood has benefited from a surge in both equities and crypto. The company reported record highs this week, not seen since its IPO frenzy nearly four years ago.
Robinhood's rise mirrors that of Coinbase (COIN), another publicly traded platform that was added to the S&P 500 in May. COIN shares surged 34% the week its inclusion was announced, despite ongoing regulatory scrutiny and a major hack. Notably, the exchange agreed to acquire Deribit, the world's leading crypto derivatives exchange, for around $2.9 billion in early May.
Investors are now wondering if Robinhood could see a boost similar to that of Coinbase — though some, like Cramer, are already hinting at frothy momentum.
While Cramer didn't elaborate beyond 'Memed,' his tone suggests he sees echoes of meme stock mania driving HOOD's rise.
Jim Cramer has one-word response as Robinhood stock surges toward S&P 500 first appeared on TheStreet on Jun 5, 2025
This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared.
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