Why did HOOD move on Jul 2, 2025?

Robinhood (HOOD) stock surged 7.4% on July 2, 2025, continuing a powerful multi-day rally triggered by the company's major Web3 and global expansion announcements. On June 30, 2025, Robinhood unveiled its "EU Token Revolution," launching commission-free tokenized U.S. stocks and ETFs on the Arbitrum Layer-2 blockchain for European Union customers, alongside plans to develop its own dedicated Layer-2 blockchain. The stock's upward momentum on July 2 was further sustained by a bullish analyst action on July 1, when Mizuho raised its price target on HOOD to $99, citing the crypto expansion as a key driver for a valuation rerating.