Robinhood isn't a trading app anymore

​Investor's Business Daily flagged Robinhood alongside Cisco as AI plays near buy points, and Decrypt ran a piece on "Robinhood Chain," the company's Ethereum layer 2 network built specifically to tokenize equities. HOOD closed recently around $113, and ARK has been steadily adding shares across multiple ETFs through its ongoing crypto buying spree, treating it as a fintech position rather than a pure brokerage bet.The IBD momentum story and the Decrypt infrastructure story are actually the same trade wearing two different outfits. A brokerage trading at a growth multiple because retail order flow is up is a very different asset than a brokerage that's built its own blockchain rail for tokenized stock settlement. The second one is a platform bet, closer in kind to what Coinbase built with Base than to what a traditional discount broker looks like. If Robinhood Chain gets real institutional volume moving through it, HOOD's multiple should transcend from "brokerage" comps entirely.The catch is regulatory, same as everything else in this space right now. Tokenized equities living on a layer 2 chain sit in exactly the kind of gray zone the CLARITY Act is supposed to resolve, the same bill with a Senate vote pending July 17 that's also driving the Coinbase trade. Robinhood, Coinbase and Circle are all effectively making the same wager on the same piece of legislation from different angles. That's not diversification if you're holding more than one of these names, that's still binary exposure to one Senate vote. via /r/stockrager https://ift.tt/5YgOVZq