Robinhood Markets Inc. (Robinhood (HOOD)) is having a good Thursday. The stock climbed 3.3% in premarket trading to $112.27, fueled by a flurry of product announcements at its “The World is Flat” summer crypto event in London and a fresh analyst upgrade.

The big news? Robinhood is launching its own blockchain. Called Robinhood Chain, it’s a specialized Layer-2 network built on Arbitrum technology. Think of it as Robinhood’s attempt to build a highway for tokenized real-world assets and decentralized finance (DeFi) trading. The chain will integrate with Uniswap (CRYPTO: UNI), Chainlink (CRYPTO: LINK), Alchemy, and BitGo — so it’s not going it alone.

But the blockchain is just the start. Robinhood also unveiled a fully operational tokenized stock offering, letting eligible users in more than 120 countries trade equity tokens 24/7 and even lend them out in DeFi protocols. That’s a big step toward bridging traditional finance and crypto.

Then there’s Robinhood Earn, a lending product for eligible U.S. customers. You can deposit dollar-backed USDG stablecoins into a self-custody wallet and earn an estimated 7% annual percentage yield (APY). That’s a pretty attractive rate in a world where savings accounts still hover around 4%.

And because every fintech company needs an AI angle, Robinhood expanded its Agentic Trading technology into crypto. Agentic Accounts let users connect AI models to Robinhood’s trading infrastructure for automated market analysis. It’s like having a robot analyst that never sleeps.

All this product firepower comes on the back of solid June trading volumes. Through June 25, Robinhood reported equity notional trading volumes of roughly $343 billion, options contracts traded of about 274 million, and crypto notional volumes around $14 billion. Event contracts — think prediction markets — hit about 5.2 billion. Those numbers suggest the platform is humming.

Analysts are taking notice. Mizuho maintained its Outperform rating on Robinhood and raised its price target from $115 to $130. That’s a vote of confidence that the new products can drive growth.

What the Charts Say

From a technical perspective, HOOD is looking extended. The stock is trading 17.6% above its 20-day simple moving average (SMA) of $95.57, 30.6% above its 50-day SMA of $86.06, and 9.8% above its 200-day SMA of $102.38. That’s strong momentum, but it also means the stock is stretched — if buyers take a breather, pullbacks could be sharp.

The moving average picture is a bit mixed. The 20-day SMA is above the 50-day SMA, which is bullish in the short term. But the 50-day SMA is still below the 200-day SMA, a hangover from the death cross that formed back in February. So the long-term trend is constructive, but not without some lingering caution.

Key levels to watch: resistance at $112.50, where premarket gains could stall if early buyers take profits. Support sits at $110.50, a nearby level that could provide a floor if the stock fades at the open.

For now, Robinhood is riding a wave of innovation and analyst love. Whether it can hold those gains depends on how quickly the new products translate into revenue — and whether the broader market stays friendly.