Barclays analyst Benjamin Budish says Robinhood (HOOD) announced a joint venture with Susquehanna to acquire MIAXdx, a Commodity Futures Trading Commission-licensed futures exchange venue, with plans to develop futures and derivatives products, including prediction markets. By owning a futures exchange, Robinhood will have more control over product creation and could generate better economics, the analyst tells investors in a research note. Barclays has an Overweight rating on Robinhood with a $168 price target The stock in morning trading is up 8%, or $9.21, to $124.78.
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