Robinhood Soars in Afterhours Trade After FTX Owner Takes 7.6% Stake By

By Yasin Ebrahim — Robinhood jumped in afterhours trading Thursday after Sam Bankman-Fried, the chief executive of crypto exchange FTX, acquired a 7.6% stake in the trading platform, according to a Thursday filing with the Securities and Exchange Commission.

Robinhood Markets Inc (NASDAQ:) was up more than 20% in afterhours following the report. 

Emergent Fidelity Technologies, which is owned by Bankman-Fried, invested about $648.3 million in Robinhood, according to the filing. 

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