Bitstamp Trading on Robinhood (HOOD) Is Strategic and Brings Additional Institutional Exposure: Bernstein

The exchange offers a wide range of services such as staking, stablecoins, trading, custody and prime brokering, the note said. The Bitstamp acquisition could potentially allow Robinhood to offer a broader range of cryptocurrency products to its institutional customer base. Bernstein has an outperform rating on Robinhood stock with a $30 price target. The stock was little changed at about $23 in early trading Friday.