Robinhood Markets, Inc.

The Trade Desk Joins the S&P 500

Key Points
Robinhood just launched its tokenized stocks platform in Europe.
It's offering tokenized versions of both public and private companies.
There are a few ways to benefit from stock tokenization without buying the tokens.
Modern stock trading still runs on systems that were designed when every phone had a cord. Robinhood's (NASDAQ: HOOD) new tokenized stock program, which rolled out to its European users this month, is the latest attempt to switch over to faster trade processing pipes that are actually public blockchains. The brokerage is letting people buy crypto tokens that represent shares of Apple, Tesla, or even private companies, and it could potentially launch this feature in the U.S. market soon.
The promise is 24/7 trading, near‑instant transaction settlement, and the ability to buy stocks directly using crypto. That promise matters because the next wave of capital to enter crypto is likely to arrive through inflows to familiar tickers. Here's what you need to know about this trend, and how to take advantage of it with your investing.
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Tokenized assets are going mainstream
Think of a tokenized stock as a crypto token that can (but does not always) confer ownership of the underlying stock.
Ideally, a company issues a token while it holds shares of the stock that's being tokenized. The investor buys the token from them, and then, in theory, holders of the token can redeem it for shares of the stock if they choose to do so. The price of the token is tightly coupled to the price of the underlying stock, as the token is exchangeable for it.
Another, far less desirable, implementation of the tokenization idea is a token that is artificially configured to mirror the price action of the underlying asset, without the token issuer actually owning any shares at all. Typically, the tokens are set to mirror the performance of the shares of private companies. These companies do not have stocks that are traded in highly liquid markets like those for public companies, and some of them are technically not allowed to be traded without permission of the stock's issuer.
In such a situation, token issuers are providing a financial product that's totally unmoored from the actual value of the asset, so there's nothing to stop holders from getting burned. Of course, it's still possible to sell such tokens to a greater fool, but they are in no way investment-grade, and you should not buy them.
For its part, Robinhood says it will back its public company tokens with real equity. But its OpenAI and SpaceX tokens rely solely on Robinhood's own hedging desk, meaning holders have no claim on the underlying businesses if things go sideways. In other words, Robinhood issues the less desirable and uninvestible type of tokenized stock, as well as tokenized shares backed by its own holdings.
But why bother with tokenization of stocks in general? In short, convenience.
Traditional equity trades in the U.S. settle the next day, they may incur fees, and the market shuts down for nights and weekends. A blockchain can close a tokenized trade in seconds for less than a penny, and it never sleeps. Robinhood is betting that this streamlining and wider trading window will win it new customers.
The upside could be massive for investors who position carefully in advance of this trend. Boston Consulting Group (BCG) pegs the potential market for tokenized real-world assets (RWAs), including stocks, at about $16.1 trillion by 2030. Today, only about $22 billion in assets are actually tokenized on‑chain. $528 million of this trading volume is stocks, but that's changing quickly.
One chain could be the biggest beneficiary here
Enter Solana, (CRYPTO: SOL) the chain that handles thousands of transactions per second, with typical fees of fractions of a cent. Those attributes matter for its prospects as a home for tokenized stock trading.
The value of tokenized assets on Solana has soared 140% as of mid-July to reach more than $101.6 million, outpacing the broader tokenization market and capturing the vast majority of this year's growth in the tokenized stocks segment. xStocks, a Solana‑native project launched on June 30, onboarded over 40,000 crypto wallets in its first week, offering more than 50 tokenized U.S. tickers.
For now, Solana's combination of throughput and cost gives it a first-mover advantage in tokenized stocks. If the segment follows the broader tokenization roadmap, capital will chase liquidity, reinforcing that lead. Regulation could hobble the segment, or a faster competitor could emerge, so size your positions accordingly.
Investors interested in the tokenization wave thus have two main options.
One is to buy Robinhood and hope the brokerage scales the program without angering regulators, and that its dalliance with issuing tokenized stocks of private companies ends before there's serious fallout.
The better option is to own a sliver of the tokenization rails via an investment in Solana or another chain that's going to be a hub for tokenized equity trading. If tokenized equities graduate from curiosity to mainstream channels, early exposure to Solana could look wise.
Since it's a blockchain system rather than a company, multiple tokenized stock issuers could operate on Solana's network. That means that the regulatory risk to the network as a whole is much lower than an investment in Robinhood. Robinhood's investments in tokenization could still bring investors significant wealth, but so far, it simply doesn't seem to be protecting investors or educating them properly in light of its approach to issuing tokens.
Should you invest $1,000 in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
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Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,023,813!*
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Alex Carchidi has positions in Apple, Solana, and Tesla. The Motley Fool has positions in and recommends Apple, Solana, and Tesla. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

"Tokenized" Stocks Are Breaking Down Barriers. Here's What Investors Need to Know.

An updated edition of the June 9, 2025 article.
Cryptocurrencies like Bitcoin, Ethereum, Solana, Cardano, Dogecoin, XRP, Stablecoins and Altcoins are powered by blockchain technology, which comprises complex cryptography and software that creates an immutable and decentralized database. Blockchain’s safety and decentralization features have been among the major drivers behind the proliferation of cryptocurrencies. The system offers enhanced security for users, as it maintains a tamper-resistant record of transactions and keeps track of the owner.
Positive industry developments like the repeal of an accounting rule by the U.S. Securities and Exchange Commission (“SEC”), and the agency’s decision to drop lawsuits against Coinbase COIN and Robinhood HOOD are noteworthy developments. The passing of the GENIUS Act on July 17 provides a legal background to stablecoins. Other pending regulations — The CLARITY Act and The Anti-CBDC Surveillance State Act — bode well for cryptocurrency enthusiasts.
Cryptocurrencies have been benefiting from the liberal policies of U.S. President Donald Trump. An executive order by President Trump that directed a working group to study and propose changes to cryptocurrency regulations bodes well for crypto enthusiasts. President Trump’s announcement of creating a crypto reserve augurs well for cryptocurrency miners, including IREN Limited IREN, Cipher Mining CIFR, and exchanges like Coinbase and CME Group CME.
Bitcoin, the most popular cryptocurrency, has been soaring due to increasing acceptance as a non-sovereign asset, as well as higher institutional and corporate adoption. However, volatility remains a headwind. Over the trailing 12 months, Bitcoin has traded between a low of $53,997.96 and a high of $119,963.30. Over the past seven days, Bitcoin has decreased 0.7%, whereas Ethereum, Solana, Cardano, Dogecoin, and XRP have surged 15.9%, 18%, 14.7%, 27% and 16.6%, respectively.
Apart from cryptocurrency miners and exchanges, Amazon AMZN and NVIDIA NVDA are attractive choices. Our Cryptocurrencies & Blockchain Screen is an invaluable source for identifying Crypto and blockchain stocks with massive growth prospects.
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3 Crypto & Blockchain Stocks to Buy Right Now
Robinhood benefits from higher retail participation in markets that is expected to drive trading revenues. This Zacks Rank #1 (Strong Buy) company’s initiative to diversify its product base to acquire new clients and gain market share is noteworthy. You can see the complete list of today’s Zacks #1 Rank stocks here.
Launch of tokenized stocks in the European Union (EU) in June, prediction markets hub (March 2025), options trading in the U.K., Futures market, Tax Lots feature for its investors, Robinhood Gold Card (March 2024) for its Robinhood Gold customers, thereby venturing into the credit card space, are noteworthy. In October 2024, HOOD launched Index Options and Robinhood Legend to focus on web traders. In November 2024, Robinhood added four cryptocurrencies to its platform, bringing the total number of cryptocurrencies available for trading to 19.
However, HOOD operates in a highly regulated industry, and hence it is exposed to regulatory risks, resulting in hefty fines and restrictions that may affect its profitability. Reportedly, the company is under investigation by Lithuania's central bank, its lead regulator in the European Union, regarding the newly launched tokenized equity products.
Cipher Mining is expected to benefit from expanding opportunities at Black Pearl and Barbara Lake and longer-term expansion in 2026 and 2027.
Black Pearl is the company’s 300-megawatt data center in Wink, TX. Phase 1 is currently under construction and will feature 150 megawatts of air-cooled Bitcoin mining rigs. CIFR is evaluating options for the usage of the remaining 150 megawatts of capacity, including plans to build Phase 2 of the data center for Higher Performance Computing (HPC) hosting.
This Zacks Rank #2 (Buy) company has inked a partnership with Fortress to develop a next-generation data center at the Barber Lakes site, driven by available capacity of 300 megawatts and 587 acres of surrounding land, in addition to its already energized substation. Cipher Minning plans to expand the facility with an additional 500-megawatt data center adjacent to the current 300-megawatt site. The additional 500 megawatts of capacity are expected to come online by 2029.
The latest site acquisition in Andrews County, TX, called Stingray, adds 100 megawatts of front-of-the-meter capacity and 250 acres of land adjacent to the transmission assets. The site is expected to energize in the third quarter of 2026.
Another Zacks Rank #2 stock, IREN Limited, is one of the world’s largest and lowest-cost Bitcoin miners, achieving 326% year-over-year hashrate growth in third-quarter fiscal 2025. IREN Limited achieved its 50 EH/s installed hashrate target in June. The company paused further expansion to prioritize continued build-out of AI verticals.
IREN is benefiting from growing Bitcoin mining revenues. In third-quarter fiscal 2025, Bitcoin Mining revenues jumped 24% year over year to $141.2 million. The momentum is expected to have continued in the fiscal fourth quarter. In April, May and June, IREN reported revenues of $50.1 million, $64.7 million and $65.5 million, respectively, aggregating to $180.3 million for fiscal fourth quarter.
The company mined 1,514 Bitcoins in third-quarter fiscal 2025 as compared with 1,347 in the previous quarter. IREN mined 579, 627 and 620 Bitcoins in April, May and June, respectively.
AI Cloud revenues are accelerating, which bodes well for IREN Limited. In third-quarter fiscal 2025, AI Cloud services revenues jumped 33% year over year to $3.6 million. The company is supplying white labelled compute to leading US AI cloud providers. In April, May and June, IREN reported revenues of $2 million, $2.2 million and $2.2 million, respectively.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Cryptocurrency Stocks to Buy Amid Regulatory Tailwinds

The cryptocurrency rally has been continuing despite a mixed bag of economic data released over the past couple of weeks. The Federal Reserve is likely to keep interest rates unchanged, while uncertainty over the impact of President Donald Trump’s tariffs is again raising concerns over the economy’s future.
Bitcoin (BTC), which hit an all-time high last week, has managed to hold its ground and has surpassed expectations of analysts. The cryptocurrency is on track to hit another new all-time high, and experts believe that it has the potential to surpass $150,000 this year.
Given this situation, it would be ideal to invest in crypto-focused stocks. We have selected three stocks, namely Visa Inc. V, Robinhood Markets, Inc. HOOD and Interactive Brokers Group IBKR. Each of these stocks has strong growth potential for 2025 and has seen positive earnings estimate revisions in the last 90 days.
Bitcoin Rally Continues
Bitcoin hit an all-time high of $123,153.22 last week, before giving up some of its gains. The cryptocurrency has mostly been hovering around $119,000 since then. Concerns about potential new tariffs and a jump in June inflation caused by existing tariffs led to a slight dip in Bitcoin's value over the past few days.
However, Trump said on Tuesday that trade talks are underway with several countries and more deals will be announced before the Aug. 1 deadline for his tariffs. This came as Trump announced that the United States reached a massive $550 billion trade deal with Japan, just two weeks after threatening with 25% tariffs.
Trump also recently announced trade deals with the Philippines and Indonesia. Meanwhile, a surge in June retail sales suggests that the economy is still on solid ground, which gives the Fed ample reasons to keep interest rates unchanged in its upcoming meeting late this month.
However, market participants are still hopeful that the Federal Reserve will implement two 25 basis point rate cuts this year, which is likely to boost Bitcoin further.
3 Crypto-Centric Stocks With Upside
Visa Inc.
Visa is taking a significant step toward modernizing cross-border money movement. In a move aimed at enhancing the efficiency of global transactions, V is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain. This expansion of V includes collaboration with prominent merchant acquirers Worldpay and Nuvei, marking a pivotal development in the world of digital payments.
Visa’s expected earnings growth rate for the current year is 13.1%. The Zacks Consensus Estimate for current-year earnings has improved 0.6% over the last 90 days. V currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Robinhood Markets
Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is 20.2%.The Zacks Consensus Estimate for current-year earnings has improved 18% over the last 60 days. Robinhood Markets currently has a Zacks Rank #1.
Interactive Brokers Group, Inc.
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR’s commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 9.7% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 9% over the last 90 days. IBKR currently has a Zacks Rank #1.
5 Stocks Set to Double
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Crypto-Centric Stocks to Grab on the Ongoing Bitcoin Rally

Valuations are stretched, but is it a bubble? In this podcast, Motley Fool contributors Travis Hoium, Lou Whiteman, and Rachel Warren discuss that as well as:
The latest AI and energy news.
ASML's earnings.
A surprising report from Johnson & Johnson.
Alphabet's $25 billion data center and energy deals.
Bold predictions this earnings season
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. When you're ready to invest, check out this top 10 list of stocks to buy.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
A full transcript is below.
Should you invest $1,000 in ASML right now?
Before you buy stock in ASML, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ASML wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $665,092!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,050,477!*
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*Stock Advisor returns as of July 21, 2025
This podcast was recorded on July 16, 2025.
Travis Hoium: Is a market bubble farming right under our noses? Motley Fool Money starts now. I'm Travis Hoium, joined by longtime Fools, Lou the legend Whiteman, and from an undisclosed location somewhere in Europe, Rachel Warren. Today, we're going to get to ASML and Johnson & Johnson's earnings results, which came in overnight. Google's $25 billion energy deal. But first, are we in a market bubble? Lou, I remember Cloudflare trading for 100 times its sales at the peak of the market in 2021. The stock then fell 80% in six months. Today, Palantir is trading for 110 times sales. The stock is over $150 per share. Robinhood, 25 times sales at $100 per share. It looks like a bubble. It feels a little like a bubble. Are we in a bubble?
Lou Whiteman: Look, Travis, there's always a bubble somewhere. Valuations they look stretched. My go-to stat here is the S&P 500 is currently trading at 25 times earnings. That's well above the 20-year average, about 16 times earnings. That's frothy. I do think you need to keep that in mind. For example, I think Hidden Gems just sold down some of its position in Arista Networks based on high valuation. You keep that in mind. But here's the thing. Markets can remain at high valuations for a long time. I'm not running for the exits. I'm being selective. I'm looking for opportunities out there in areas like financial services and income stocks. I'm keeping that in mind, I'm adjusting as we go, but I also want to stay in the market.
Rachel Warren: I don't think I would say that we are in a stock market bubble, but I do think it's an important point to discuss. We're looking at valuations of a lot of tech companies right now, in particular. I think it's easy to be concerned that there might be a bubble forming. We've heard a lot of analysts make comparisons to the .com boom, of course. There's a lot of excitement that we're seeing in the tech base in particular, right now. This is being driven by the AI revolution, whether it's data center companies, chip companies, or software-based platforms like Palantir, as you mentioned, that are boosting their business with AI-driven services. This is where so much of the market seems to be focused. It's also a time where a lot of the modern pace of innovation is tracing back to right now. You look at a company like Robinhood. You've got the broader resurgence of interest in crypto that's benefited the platform. It's expansion into Europe, stock tokenization, and crypto futures. Those are just a few catalysts.
I will say, I think it creates a situation where many valuations are heightened, probably in some cases, for more than a given company's intrinsic worth. But I don't think that that valuation dynamic is true across the board. I think you can look at other industries where valuations are much more reasonable, find quality accessible businesses. For that reason, I don't think we're in a broad stock market bubble. But are valuations too high in some cases? I think that's the case. I think it's more important than ever for investors to be discerning when evaluating the intrinsic worth of companies, making sure it's the right fit for their personal portfolio, thinking about, where's your money? What is the true monetizable business here? Does it have those durable value-driven tailwinds for the company's growth? I think those are the questions that we have to ask ourselves as investors.
Travis Hoium: Sounds like the final answer is, we're probably in a bubble somewhere. We just don't know exactly where it is. I want to get to one of the companies that's involved in potentially inflating bubbles. That is Google and their latest AI news. We'll do that after a quick break.
Potential bubbles, let's turn to artificial intelligence, and Google announced $25 billion in data center and energy deals in the PJM, which manages electricity across 13 states from New Jersey to North Carolina, all the way over to Chicago. This comes on the heels of Energy's biggest inflation numbers in quite a while. 5.8% increase in electricity prices over the past 12 months. That was reported just yesterday. AI is an energy hog. We know that Rachel utilities have been a boring way to make money for decades, 1, 2, 3% growth. But does the recent change in artificial intelligence and the energy needs there, does that change anything? Does that change the way that you look at the utility space in any way?
Rachel Warren: For me, personally, I wouldn't say that this changes the trajectory of my investing interests in the energy space. I will say, it's not a space I gravitated toward. There are plenty of fellow fools who do. But if anything, as an alphabet investor, this makes me more excited about the investments this company is making that I think can help cement its continued leadership and strides in the AI space. In addition to that $25 billion data center and AI infrastructure investment, Google's also spending about $3 billion to modernize two hydropower plants in Pennsylvania, and that's designed to facilitate the power demand from AI and data centers in the area. One thing to bear in mind, PJM is the biggest electric grid in the nation. Its coverage area includes the world's largest data center market, that's located in Northern Virginia.
We're at a time where PJM and other providers are really struggling to keep up with rising electricity demand amid the AI boom. AI training, particularly for large language models and generative AI, it's incredibly energy intensive. A single generative AI query can require almost 10 times more electricity than a traditional Internet search. Data centers are already consuming a notable percentage of the nation's electricity. Unlike some other energy demands that can fluctuate, AI requires continuous operation. That means you need a constant power supply. That strains existing grid capacity. There was a meeting that just happened yesterday at Carnegie Mellon in Pittsburgh. We have the president, his cabinet, and executives from a range of companies, including Alphabet, were there. There was a report that the companies there, including, of course, Alphabet's Google, announced a combined total of $90 billion in investments in data centers, energy, and power infrastructure. From my perspective, that's the cost of doing business for these major providers. But if you are interested in the energy space, I think it creates some nice tailwinds there.
Travis Hoium: Lou, of course, Rachel mentioned the hydroelectric plants, and of course, Brookfield Asset Management was involved. They are the company that's behind a lot of electricity generation, not only in the US, but around the world, a lot of renewable energy. Is the investing takeaway here as simple as AI is a tide that is lifting all of these utility boats, and maybe we're going to lose the consumer overboard, or what are you taking away from?
Lou Whiteman: No, my investing takeaway is not by the utilities. I'm not there yet, but the invest takeaway for me is you said it, Travis. It's Brookfield. It's always Brookfield or something like that. Look, I think the demand for energy, that trend is real. It's a long-term tailwind, but I don't want to invest in individual utilities. I don't like to pick winners among geographies or projects. My way to take advantage of this trend is to buy into a company making investments all over the sector, giving me broad exposure instead of just an individual company. Look at the Brookfield Renewable Partners case. That's the actual entity that Google's partnering with here. Brookfield Renewable is going to bring on 8,000 megawatts of capacity in 2025 alone. I'm going to take my chances getting that broad exposure instead of focusing on any one individual company and hoping that they ride the wave, as well.
Travis Hoium: I think that's probably a smart way to look at it, and you get a nice dividend yield with a lot of those asset owners as well. Next up, we're going to talk about two of the big earnings reports of the day. We'll do that after this break.
ASML, which makes critical equipment for making chips, all the artificial intelligence chips, the chips that's probably in your smartphone today. This equipment costs as much as $400 million for a single piece of equipment. They reported earnings overnight, beat on the top and bottom line with 7.7 billion euros in revenue and 590 euros per share in earnings. But the stock is down 10% today because they were a little cautious about 2026, saying they couldn't confirm. It was going to be a growth year. Lou, what are you taking away from this earnings report?
Lou Whiteman: Worth saying that, like you said, these are really expensive machines. Even in the best of times, this is a company that's tough to judge quarter to quarter. You miss one delivery, and it can throw off the quarter. You're going to have lumpy. You throw in tariffs, trade wars, and chip restrictions to China, and I understand the caution. But I'm going to note here, CFO Roger Dyson attributed to this beat, this last quarter's beat to tariffs having "less negative impact than they anticipated." I think there's a real chance this trend can continue where the uncertainty is there, but it turns out not as bad as they thought because there's just so much demand out there, and if so, I think growth in 2026 can eventually be put back on the table, whether it comes or not for long term individual investors, the underlying growth story here, the need for more and more advanced chips and therefore, the need for more the machines that can make them. That's unchanged. I think Wall Street is overreacting today. I think this is still a great company with a great future up ahead.
Rachel Warren: What's interesting about this, Abi, as you noted, Travis, ASML, they beat on both the top and bottom line expectations. This was for their fiscal second quarter. Now, they gave guidance for the current quarter that missed expectations, and they warned that there might be the possibility of no growth in 2026. But it's not quite as bad as it appears at first glance. They forecast Q3 quarter revenue of between 7.4 billion euros and 7.9 billion euros at the upper end of that tier. I was just shy of the market expectations of about 8.3 billion euros for Q3. Taking a broader, more holistic look here, there are a lot of companies in the semiconductor industry that are facing similar headwinds as ASML is right now. There's a lot of uncertainty that's been created by the US tariff policy that remains the case. It's worth noting, management still expects their full year 2025 net sales to grow 15%, and they said that their AI customers' fundamentals are still looking really strong. Anything, management emphasized the continued uncertainty that's driven by macro headwinds, and that's a dynamic that competitors are contending with, too. They're preparing for growth in 2026.
But the reality that they and other adjacent players are facing right now in many ways. It goes back to external factors that they can't control. In my opinion, you've still got a quality business here. I think investors might need to moderate expectations. If macro headwinds shift in the short term, but I think the company is well-positioned to write those out.
Travis Hoium: Johnson & Johnson was the other big earnings report this morning. Stocks up 6% as we're recording. Rachel, this was another double beat. They said, they don't need to do deals out of desperation despite a Paden cliff. What were your takeaways from the report?
Rachel Warren: It was a fantastic quarter for the business. As you noted, a beat on both the top and bottom lines. They reported $23.7 billion in revenue. That beat estimates of 22.8 billion, adjusted earnings per share of $2.77. That was compared to analyst estimates of $2.70. That came with raised guidance for the year, as well, up 5.4%, at the midpoint. We had the chairman and CEO of the company say that their portfolio and pipeline is positioning them for elevated growth in the second half of the year with game-changing approvals and submissions and key disease verticals, including oncology, psoriasis, surgery, and cardiovascular, and they're looking to extend that as the year progresses. Broken down by segment, their innovative medicine segment, which is essentially their pharmaceutical business, grew 4.5% year over year. Their medical device business saw sales climb more than 7%. Those are fantastic figures for a company at this level of maturity. This is a business that I will note has been acquisitive in recent years. That goes back to everything from their acquisition of Abiomed several years ago, where they acquired the world's smallest heart pump from that acquisition.
They recently closed the purchase of intracellular therapies. That solidified their neuroscience portfolio. One important thing to note, this was something that CFO Joe Wolk addressed in a recent interview. They are facing patent pressures, particularly on some of their key older blockbuster drugs like Stelara. That's been a $10 billion-plus drug annually in recent years. But management thinks that, really, the expected gap in revenue from the generic competition is not going to have a noticeable impact on the company. That they're really well positioned to ride that out. Broadly speaking, going back to these recent acquisitions and their continued internal development pipeline. I will also say that management noted a revision in the impact of tariffs to 200 million. That was versus the 400 million that they were previously projecting. Now, there's still a lot of uncertainty about drug tariffs that is lingering, and something that their CFO said is, we're still really waiting to see what the administration shares in that regard. We're in an environment, of course, where there's a ton of uncertainty regarding tariffs and other cost pressures for businesses like this one. I will say this is one of the most well-bolstered companies in the pharma industry from a cash perspective. They're well-positioned to handle any headwinds that might come. They have an extensive domestic manufacturing presence that they are also looking to expand. This is also a company that has been paying and raising their dividend every single year for over six decades. It's a great company, in my opinion.
Travis Hoium: To end the show, I do want to get bold with some predictions here. Now, we are long-term investors, so a one-day drop in stock is maybe not that big a deal. It might even be opportunity. ASML is one of these companies wide moat. It's down after earnings, maybe an opportunity for those long-term investors. Now I'm thinking about opportunities like Netflix in the Quickstar days, Meta's drop when it was getting fit in 2022. What are the stocks that you're looking for a potential buy-the-dip stocks as we go through earning seasons, and maybe we have some short-term turbulence. Lou, let's start with you.
Lou Whiteman: The first name that comes to my mind is Mercado Libre. In part, because, look, given the markets, given the South American exposure, the wide range of businesses, there does tend to be volatility. There does tend to be dips. I think there could be opportunities. Look, for all of the growth that this company has delivered, crazy to think about, it's what, maybe one 20th the size of Amazon. It's a current position for me, and it's constantly on my radar.
Rachel Warren: One business I've been looking at recently is Toast. This has been a intriguing company to follow, particularly for me over the last 12-18 months. They really continue to expand the cohort of clients that they're onboard into their platform. They just booked Applebee's, which was their largest deal in company history. They added over 6,000 net new locations just in Q1 of 2025 alone, and they reached an annual recurring run rate that grew 31% year over year to about 1.7 billion as of the end of March. It's a sticky business. It resonates with a lot of small, medium-sized restaurant chains. But also some of these larger companies that are starting to see the value in Toast's platform. They're looking outside the restaurant space, too, convenience stores, companies like Top Golf, or more recent Partners for them. I think there's a lot to like about this business. I'm also quite impressed by their more recent profitability. It's one that I'd be curious to take a closer look at. They happen to go down that mark.
Travis Hoium: Thank you to Lou and Rachel for joining me today. As always, people on the program may have interest in the stocks that they talk about in the Motley Fool, may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. All personal finance content follows Motley Fool editorial guidelines and is not approved by advertisers, are sponsored content, and provided for informational purposes only to see our full advertising disclosure, please check our show notes. For Lou Whiteman and Rachel Warren, and the entire Motley Fool team, I'm Travis Hoium. We'll see you tomorrow.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Lou Whiteman has positions in ASML, Cloudflare, and MercadoLibre. Rachel Warren has positions in Alphabet, Amazon, and Johnson & Johnson. Travis Hoium has positions in Alphabet, Cloudflare, MercadoLibre, and Robinhood Markets. The Motley Fool has positions in and recommends ASML, Alphabet, Amazon, Arista Networks, Cloudflare, MercadoLibre, Netflix, Palantir Technologies, and Toast. The Motley Fool recommends Brookfield Asset Management, Brookfield Renewable Partners, and Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is the Stock Market in Bubble Territory?

Key Points
Ten large-cap stocks representing five sectors have delivered higher year-to-date gains than Palantir.
Wall Street analysts aren't especially excited about any of them.
Most of the high-flying stocks have exorbitant valuations.
No matter how you look at it, Palantir Technologies (NASDAQ: PLTR) is one hot stock. The share price of the artificial intelligence (AI) and data analytics software company has more than doubled year to date.
Is Palantir the hottest stock on the market? Nope, not by a long stretch. Despite the impressive gain, it's not even the best-performing large-cap stock.
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The top 10
Ten stocks of companies with market caps of $10 billion or more have outgained Palantir so far in 2025:
Data source: Finviz, Yahoo! Finance. *As of intraday trading on July 18, 2025. YTD = Year-to-date.
This list reflects several fast-growing markets. Like Palantir, three of the stocks have strong artificial intelligence (AI) connections. Coreweave is an AI cloud computing provider. Symbotic is a leader in AI-powered robotics for warehouses. NuScale Power makes small modular nuclear reactors that generate electricity, with a special focus on providing power for AI data centers.
Roblox runs a virtual universe for online gamers. It also has AI ties, though. For example, Roblox Cube is a generative AI application that helps users create 3D and 4D objects and scenes for its gaming platform.
Three of the stocks outperforming Palantir this year are in the financial services business. Robinhood is a popular online brokerage. Circle Internet Group specializes in building the infrastructure for stablecoins. Futu Holdings operates a digital brokerage and wealth management platform.
AngloGold Ashanti is a global gold mining company, but it's intertwined with the financial world. The price of gold has skyrocketed due largely to investors' concerns about market volatility.
Two other stocks are flying high -- literally. AST SpaceMobile is building a satellite-based broadband network. Joby Aviation operates vertical takeoff and landing air taxis.
Wall Street's take
Wall Street isn't bullish on Palantir. Only four of the analysts surveyed by LSEG in July recommended buying the stock. The consensus 12-month price target for Palantir is 34% lower than the current share price.
Do analysts have more favorable opinions about the 10 large-cap stocks that have outgained Palantir this year? For the most part, no.
The price targets for Coreweave, Robinhood, NuScale Power, Symbotic, and Roblox are at least 30% below the share prices for these stocks. The average price target for Joby Aviation is more than 50% lower than its share price. Analysts also expect shares of Circle Internet Group, Futu Holdings, and AST SpaceMobile to fall by double-digit percentages over the next 12 months.
Of the 10 large-cap stocks outperforming Palantir in 2025, only one has a consensus price target that reflects positive upside potential -- AngloGold Ashanti. But don't get excited yet. Analysts think the gold miner's shares will rise by less than 3% over the near term.
Are the analysts right?
I suspect Wall Street analysts are right to be skeptical about the near-term prospects of most of these high-flying stocks. The biggest knock against them (with a couple of exceptions) is their exorbitant valuations. That's the main issue for Palantir, too.
However, AngloGold Ashanti's shares trade at only 10.4 times forward earnings even after its huge gains. And while Symbotic's earnings multiples are at nosebleed levels, the stock's price-to-sales ratio is a much more reasonable 1.33.
Any or all of these stocks could continue to soar over the coming months. I think, though, that the best choices are the most attractively valued -- AngloGold Ashanti and Symbotic.
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Keith Speights has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies, Roblox, and Symbotic. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

These 10 Large-Cap Stocks Have Outgained Palantir in 2025. Here's How Wall Street Thinks They'll Do.

Shares of Interactive Brokers Group IBKR gained 4.8% in the after-market hours on better-than-expected quarterly results. Its second-quarter 2025 adjusted earnings per share of $1.51 surpassed the Zacks Consensus Estimate of $1.46. The bottom line indicates a rise of 15.9% from the prior-year quarter.
Results were primarily aided by an increase in revenues. Growth in customer accounts and a rise in daily average revenue trades (DARTs) acted as other tailwinds. However, higher expenses were the undermining factor.
After considering non-recurring items, net income available to common shareholders (GAAP basis) was $224 million or 51 cents per share, up from $179 million or 41 cents per share in the prior-year quarter. Our estimate for net income was $197.4 million.
Interactive Brokers reported comprehensive income available to common shareholders of $303 million or 69 cents per share compared with $177 million or 41 cents per share in the prior-year quarter.
IBKR’s Revenues Improve, Expenses Rise
Total GAAP net revenues for the quarter were $1.48 billion, up 20.3% year over year. Adjusted net revenues were also $1.48 billion, up 14.7%. The Zacks Consensus Estimate for the top line was $1.36 billion.
Total non-interest expenses increased 7.4% year over year to $376 million. This rise was primarily due to an increase in execution, clearing and distribution fees, employee compensation and benefits charges, communications expenses, and general and administrative costs. Our estimate for non-interest expenses was pegged at $365.3 million.
Income before income taxes was $1.10 billion, up 25.5% year over year.
The adjusted pre-tax profit margin was 75%, up from 73% a year ago.
In the reported quarter, total customer DARTs jumped 49% year over year to 3.55 million. Our estimate for the metric was 3.33 million.
Customer accounts grew 32% from the year-ago quarter to 3,866,000. Our prediction for customer accounts was 3,599,000.
Strong Capital Position of Interactive Brokers
As of June 30, 2025, cash and cash equivalents (including cash and securities set aside for regulatory purposes) totaled $86.7 billion compared with $68.1 billion as of Dec. 31, 2024.
As of June 30, 2025, total assets were $181.5 billion compared with $150.1 billion as of Dec. 31, 2024. Total equity was $18.5 billion, up from $16.6 billion as of Dec. 31, 2024.
Our View on IBKR
Interactive Brokers' efforts to develop proprietary software and an increase in emerging market customers are expected to keep aiding financials. Relatively higher interest rates will likely aid revenue growth in the near term. However, rising expenses and high exposure to geopolitical risks overseas are headwinds.
Interactive Brokers Group, Inc. Price, Consensus and EPS Surprise
Currently, Interactive Brokers sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Release Dates of IBKR’s Peers
Here are some of IBKR’s peers that are yet to come out with quarterly numbers. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.)
Robinhood Markets HOOD is slated to announce quarterly numbers on July 30.
In the past week, the Zacks Consensus Estimate for Robinhood’s quarterly earnings has moved higher to 31 cents, implying a 47.6% jump from the prior-year reported number.
Tradeweb Markets TW is also slated to announce quarterly numbers on July 30.
In the past week, the Zacks Consensus Estimate for TW’s quarterly earnings has been revised upward to 86 cents, indicating a 22.9% rise from the prior-year reported number.
5 Stocks Set to Double
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Stock #1: A Disruptive Force with Notable Growth and Resilience
Stock #2: Bullish Signs Signaling to Buy the Dip
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Stock #4: Leader In a Red-Hot Industry Poised for Growth
Stock #5: Modern Omni-Channel Platform Coiled to Spring
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

IBKR Stock Gains on Q2 Earnings Beat, Revenues & Expenses Rise Y/Y

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Lucid Group Inc (Symbol: LCID), where a total of 1.3 million contracts have traded so far, representing approximately 127.6 million underlying shares. That amounts to about 95% of LCID's average daily trading volume over the past month of 134.4 million shares. Particularly high volume was seen for the $3.50 strike call option expiring July 18, 2025, with 130,864 contracts trading so far today, representing approximately 13.1 million underlying shares of LCID. Below is a chart showing LCID's trailing twelve month trading history, with the $3.50 strike highlighted in orange:
Papa John's International, Inc. (Symbol: PZZA) saw options trading volume of 10,053 contracts, representing approximately 1.0 million underlying shares or approximately 91.8% of PZZA's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $35 strike put option expiring September 19, 2025, with 8,815 contracts trading so far today, representing approximately 881,500 underlying shares of PZZA. Below is a chart showing PZZA's trailing twelve month trading history, with the $35 strike highlighted in orange:
And Robinhood Markets Inc (Symbol: HOOD) saw options trading volume of 488,767 contracts, representing approximately 48.9 million underlying shares or approximately 90.4% of HOOD's average daily trading volume over the past month, of 54.1 million shares. Especially high volume was seen for the $105 strike call option expiring July 18, 2025, with 35,954 contracts trading so far today, representing approximately 3.6 million underlying shares of HOOD. Below is a chart showing HOOD's trailing twelve month trading history, with the $105 strike highlighted in orange:
For the various different available expirations for LCID options, PZZA options, or HOOD options, visit StockOptionsChannel.com.
Also see:
Blue Chip Dividend Stocks Hedge Funds Are Selling
WES Dividend Growth Rate
HPI Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: LCID, PZZA, HOOD

"When I see a bubble forming, I rush in to buy, adding fuel to the fire."
— George Soros
Bubbles are not just market anomalies, they are often features of major eras of innovation and expansion. From railroads to dot-coms and digital assets, investors have repeatedly underestimated how far narrative-driven excess can go. Today, we are in the early innings of what may become the next great bubble, driven by a convergence of artificial intelligence, quantum computing, and crypto-financial systems.
Each of these technologies is transformational on its own. Together, they are catalyzing a new wave of speculative enthusiasm, and importantly, real capital investment across both public and private markets. The last couple of years, broad markets have performed very well led by a surge in thematic stocks tied to AI infrastructure and quantum computing, while tokenized financial rails have begun to proliferate more recently. Like in the late 1990s, the rally may seem unsustainable, and it likely will be, eventually. But history shows that there may be explosive gains in the years ahead for those who are well positioned.
This article explores what a full-blown speculative peak could look like over the next couple of years, and how much upside may still lie ahead if the current bull run evolves into a true mania. We’ll examine lessons from past bubbles, outline the broader themes driving this one, and highlight several individual stocks that could become major winners along the way.
Artificial Intelligence: The Infrastructure Behind Superintelligence
AI is already reshaping daily life, but we may only be scratching the surface of what’s coming. The exponential growth in large language model (LLM) usage, combined with an arms race in data center construction, is driving massive demand for compute infrastructure.
The growth in LLM usage across both consumer and enterprise applications has been nothing short of extraordinary. After becoming the fastest app in history to reach 100 million users, OpenAI’s ChatGPT has continued its explosive ascent, now estimated to have over 1 billion weekly active users. The company is reportedly generating more than $10 billion in annual revenue, and while it’s the most prominent player, it’s far from alone. Competitors like Anthropic’s Claude, Google’s Gemini, and Meta’s Llama are also accelerating rapidly, contributing to a broader AI boom.
Yet the infrastructure behind these systems may be the most compelling part of the story. Meta CEO Mark Zuckerberg recently revealed plans for a multi-gigawatt data center, code-named Prometheus, describing it as a facility that could ultimately match the physical footprint of Manhattan. The scale of this ambition highlights the extraordinary capital intensity required to push the frontier of artificial intelligence.
Global hyperscaler spending on data infrastructure is expected to reach nearly $400 billion this year, fueled not only by commercial demand but by geopolitical competition. Nations are racing to develop sovereign AI capabilities, with some viewing superintelligence as a matter of national security. Whoever controls the most advanced AI infrastructure could shape the future, not just of industries, but of economies, governance, and global power structures.
What I’m trying to say is this: a truly historic amount of capital is gushing into this industry as the world’s leading technologists attempt to build something akin to a digital god. Will they succeed? I honestly don’t know. But what I do know is that the sheer scale of spending, investment, and adoption, from the world’s wealthiest corporations and most powerful governments, is likely to drive the stock market significantly higher, especially for companies positioned in the right sectors.
Key stocks positioned to benefit from this wave include:
Nvidia NVDA – The dominant AI hardware provider powering the entire LLM and inference boom
Palantir Technologies PLTR – Enterprise-level AI decision-making systems used by governments and defense
Vertiv (VRT) – A critical infrastructure company providing thermal and power solutions to data centers
Microsoft (MSFT), Meta (META) and Alphabet (GOOGL) – AI hyperscaler titans building and scaling LLM platforms and integrating intelligently into core businesses
Constellation Energy (CEG) – Benefiting from the enormous power demands of next-gen AI facilities
Image Source: Zacks Investment Research
Quantum Computing: From Hype to Real-World Impact
Quantum computing has quietly taken a leap forward in the last year. What was once seen as far-off science fiction is now entering its commercialization phase, with breakthroughs in qubit coherence, quantum error correction, and hybrid classical-quantum systems accelerating the timeline.
While large-scale universal quantum computing is still several years away, practical use cases in logistics optimization, pharma, and material science are beginning to emerge. As these systems are paired with classical AI infrastructure, we may see the rise of hybrid models that radically outperform current methods.
Most notably, over the past several months, quantum computing stocks have gone vertical. While skeptics point to the still-limited revenue and earnings across the sector, early commercial traction is beginning to materialize, and it appears the market is starting to price in the tremendous long-term potential. One thing is clear: capital is flowing aggressively into the industry.
Promising public companies in the space include:
IonQ IONQ – The current leader among quantum computing pure-plays, with real commercial traction
Rigetti Computing (RGTI) – More speculative, but heavily shorted and capable of meme-stock behavior
D-Wave Quantum QBTS – A legacy player focused on annealing-based quantum systems
Quantum Computing Inc. (QUBT) – Ultra-speculative, with potential to catch fire in a retail bubble
Image Source: Zacks Investment Research
Bitcoin, Crypto, and Digital Assets: The Financial Layer of the New Era
Bitcoin has reclaimed its position as the best-performing macro asset, outpacing gold, stocks, and real estate by a wide margin. While its role as a hedge against fiat instability and global uncertainty can be difficult to quantify, it has clearly proven effective as a portfolio diversifier, and increasingly serves as a release valve for excess liquidity in the financial system.
The rise of tokenization and stablecoins is creating a new wave of speculative energy — not just in cryptocurrencies themselves, but in how traders and investors actually interface with the market. Tokenization refers to the process of putting real-world assets (like stocks, bonds, or even real estate) onto blockchain rails, allowing for 24/7 trading, fractional ownership, instant settlement, and increased global access.
Meanwhile, stablecoins are offering a new form of liquidity for investors, something between a money market account and pure cash. This new form of liquidity lubricates financial markets broadly as it enables real-time settlement, faster capital redeployment, and round-the-clock market participation.
Key stocks for exposure to this theme include:
Coinbase COIN – The leading U.S.-listed crypto exchange and a beneficiary of retail and institutional flows and stablecoins
Robinhood HOOD – The main point of access for speculative activites from retail as well as the first to introduce tokenization.
MicroStrategy (MSTR) – Effectively a Bitcoin ETF with software revenue as a bonus
Bitcoin ETF (IBIT)– Still the king, and still the most resilient asset in speculative cycles
Image Source: Zacks Investment Research
Buying Stocks With Eyes Wide Open
If this is the beginning of the next great bubble, it’s possible to imagine just how far markets could run. While it’s impossible to predict exact outcomes, rough estimates suggest that the Nasdaq 100 could double, the S&P 500 could push toward 10,000, and Bitcoin might rally to $300,000 or more over the next couple of years. These are, of course, just rough estimates, but they reflect the type of moves we’ve seen in past bubbles when narratives take hold and capital flows turn parabolic.
Yes, it may all come crashing down someday. But in the meantime, the market may reward those who are early, thoughtful, and positioned for narrative-driven upside. Just like Soros, sometimes the best trade is to lean into the mania and exit before the music stops.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Next Great Bubble: Riding Quantum, AI, and Crypto Stocks

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell Mid-Cap ETF (Symbol: IWR) where we have detected an approximate $152.2 million dollar inflow -- that's a 0.4% increase week over week in outstanding units (from 456,850,000 to 458,500,000). Among the largest underlying components of IWR, in trading today Coinbase Global Inc (Symbol: COIN) is up about 3.2%, Robinhood Markets Inc (Symbol: HOOD) is up about 4.3%, and Bank of New York Mellon Corp (Symbol: BK) is lower by about 0.2%. For a complete list of holdings, visit the IWR Holdings page » The chart below shows the one year price performance of IWR, versus its 200 day moving average:
Looking at the chart above, IWR's low point in its 52 week range is $73.168 per share, with $96.005 as the 52 week high point — that compares with a last trade of $92.34. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
MRCC YTD Return
MGEN shares outstanding history
LMAT Dividend Growth Rate
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Robinhood Markets, Inc.

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