Overview
- Robinhood stock climbed about 11% to close at $84.84 after the U.S. Treasury made the Trump Accounts app available for download, following the company’s announcement of agentic AI trading the prior day.
- The Treasury rollout drew strong early interest with nearly six million households registered and initial activation emails sent, and accounts are scheduled to become active on July 4.
- Robinhood built the Trump Accounts platform, will serve as the brokerage and initial trustee, disclosed upfront development costs under $14 million, and said it plans to spend about $100 million on the user interface going forward.
- Bank of New York Mellon will act as the government’s fiscal agent for the program, and the program provides eligible families with a government-funded child account that carries tax advantages and an initial federal contribution.
- Analysts cited the back-to-back product announcements as the market catalyst for the rally, with Mizuho raising its price target to $115, though Robinhood still faces a 47% decline in crypto trading revenue and remains roughly 25% below its year-to-date level.