HOOD Stock Forecast as Regulators Approve Robinhood’s $180M Crypto Acquisition Deal

Robinhood is about to dip its toes further into the crypto industry after regulators in Canada approved that it can go ahead with acquiring crypto firm WonderFi in a deal worth $180 million. HOOD stock price had already gone up by 0.99% at the time of writing because of this approval, but can this purchase help the shares recover after dropping by 42% in six months?

Robinhood Gets Greenlight to Acquire WonderFi

Robinhood is going to purchase the crypto firm WonderFi for $180 million after regulators in Canada gave the nod on May 20.

Robinhood’s move to purchase WonderFi comes after a rough six months for HOOD stock, which has fallen by 42% over six months. But it rose by a small 0.8% at the time of writing because of this $180M purchase, and it could reach $84 if bulls can maintain a good grip.

Robinhood also released its financial results for between January and March 2026 earlier this month, which showed a revenue of $1.14 billion. Wall Street had expected that Robinhood would report a revenue of $1.4 billion. The diluted earnings per share also reached $0.38, below the $0.40 that Wall Street also expected.

CoinGape reported that Robinhood had invested $75 million in OpenAI in April 2026, meaning that the $180 million deal to acquire WonderFi is the latest addition to the company’s investment spree in 2026.

HOOD Stock Outlook as 50-day SMA Holds

The 50-day SMA line shows that the support for the HOOD stock price is at $76. HOOD fell below this SMA line on April 28, and the chart shows that it has since fallen into a tight range in the attempt to cross above $76 again.

The 50-day SMA reading of 76 shows that there are more people selling than buying, and this might be what has caused the price of HOOD shares to stall around $76.

HOOD will escape this stalling phase if it can create three consecutive candles that have closed above $76. After the resistance at $76 breaks, the HOOD stock price is going to move towards the 100-day SMA level of $84.

But any price gain will be driven by buyers. The RSI reading of 43 shows that the momentum is bearish, and this will keep buyers away unless there is an incentive for them to buy, such as bullish news around Robinhood.

This deal to acquire WonderFi is already turning things around for HOOD stock after it went up by 0.8% to $74 at the time of writing. HOOD could move to $84 when the acquisition deal closes on June 1 if these gains continue for the next five trading days.