HOOD Stock Prediction as Price Nears 6-Month High Despite Cathie Wood’s $28M Sale

Robinhood (NASDAQ: HOOD) stock price closed trading at $105 on June 17, its highest level in almost six months, prompting Cathie Wood’s Ark Invest to book profits with a sale of 275,571 shares valued at $28.5 million.

ARK’s sale did not dent the HOOD stock price rally or dent the sentiment, with Bernstein and Deutsche Bank reiterating a “buy rating” on the shares after the recent restructuring plan that saw Robinhood reduce its workforce by 10%.

HOOD shares were up by 2.38% in pre-market trading on June 18, as buy-side pressure continues to rise.

HOOD Stock Defies Profit-Taking as Price Approaches 2026 Highs

Robinhood shares created one of their biggest daily candles on June 17 as they opened trading at $95 and soared to a daily high of $110 before closing at $105.

The rise to $110 for the first time since January 23, 2026, occurred despite reports that ARK Invest sold 275,572 shares barely a week after it sold another 167,741 HOOD shares on June 11.

The two sales appear to be ARK Invest taking profits after the price of Robinhood shares increased by 38% in the last month, since May 18. Still, Wall Street is betting that the rise might continue.

On June 17, Bernstein and Deutsche Bank affirmed a “buy” rating for HOOD stock, with Bernstein predicting that the price will reach $130.

Robinhood’s Restructuring Plan is Fuelling The Rally

Robinhood recently announced a $28 million restructuring plan that will be reflected in its Q3 2026 earnings, which are expected to come out in August 2026.

In this plan, the brokerage company will trim 10% of its workforce, with Robinhood CEO Vlad Tenev saying that the company is shifting away from being a “heavily-layered organization.”

“Robinhood’s business has never been stronger… Because our financial position is strong, we are making this change proactively,” Tenev said.

Since the announcement came out on June 16, HOOD stock price has surged from $94 to $105.

The stock’s rise also comes days after Bernstein gave a forecast on World Cup prediction markets, saying the segment will drive a 286% increase in Robinhood’s revenues in 2026 to $586 million.

The surge could lift HOOD’s Q3 earnings after Robinhood’s Q2 earnings missed Wall Street estimates, with revenues coming in at $1.07 billion, below the expected $1.14 billion.

HOOD Stock Prediction: Key Levels to Watch

The 200-day SMA level of $102 is the first key level to watch in HOOD stock after the price rose above it on June 17.

A move past the $200-day SMA suggests that the long-term outlook is favoring bulls, but the stock needs to make three straight daily closes above it to confirm the continuation of the uptrend.

The 161.8% Fib level of $126 is the next resistance level to watch if bulls can flip the 200-day SMA into support.

The psychological support level lies at $100, and if HOOD drops below it, bears may retest the next support at the 61.8% Fib level of 87.

However, the RSI reading of 69 shows that the current momentum is favoring bulls, with the rising RSI line further confirming strong buy-side pressure.