Key Points

Robinhood keeps advancing with fresh offerings aimed at everyday investors.
It remains heavily tied to cryptocurrency, and prediction markets now serve as a key growth area.
It is also rolling out more standard offerings and recently secured approval to underwrite equities.

Robinhood Markets (NASDAQ: HOOD) was among five brokerages selected to provide Space Exploration Technologies (SpaceX) shares in its landmark initial public offering last week. Robinhood stock sits 36% below its peaks yet has risen more than 6% since the IPO. Might SpaceX inject fresh momentum into Robinhood shares?

What SpaceX IPO access means for Robinhood

Robinhood launched as the first commission-free trading app and sparked a shift across the investing world. It has led fintech progress by giving retail participants tools once reserved for big institutions.

IPO participation fits its pattern of opening doors that used to favor only early backers. Unlike many rivals, it sets no account minimums or wealth thresholds.

Image source: Getty Images.

SpaceX access aligns with Robinhood's direction and could draw new users seeking a stake. Those arrivals create a chance to turn them into active clients who explore additional features.

Beyond the SpaceX factor

SpaceX shares add appeal for Robinhood, yet other developments matter more. Robinhood shares track closely with crypto swings that heavily influence its results. Bitcoin (CRYPTO: BTC) has dropped 38% over the past year, and Robinhood crypto income fell 47% year over year in the first quarter.

Other higher-risk lines include options and prediction markets. Prediction markets revenue jumped 320% in the first quarter, though it shares crypto's volatility.

Robinhood is also entering steadier areas such as credit cards and deposit accounts. It lately won clearance to underwrite equities, a major move that places it alongside investment banks and supports longer-term stability.

The extended outlook

SpaceX alone will not lift Robinhood stock, but the company's drive to innovate keeps it worth watching. Should steadier lines grow enough to balance riskier segments, Robinhood could become a stronger fintech contender over time.

It does not suit cautious investors or most portfolios, yet those with higher risk tolerance and extended horizons may find a modest holding reasonable.

Should you purchase Robinhood Markets shares today?

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Jennifer Saibil holds no positions in the stocks discussed. The Motley Fool holds positions in and recommends Bitcoin. The Motley Fool maintains 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.