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Robinhood shares close at $105 on June 17 near a six-month high despite Cathie Wood’s $28.5 million sale

Robinhood (HOOD) closed at $105 on June 17, a near six-month high, after touching $110 intraday. The move followed the company’s plan to cut 10% of its workforce as part of a $28 million restructuring, with CEO Vlad Tenev saying the change is proactive given strong finances. Bernstein and Deutsche Bank reiterated “buy” ratings the same day, with Bernstein setting a $130 price target. Technically, the stock moved above its 200-day moving average of $102 while the RSI reached 69, indicating strong buying momentum.
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