Robinhood Markets Inc. ( HOOD ) shares have been moving higher, gaining 13% over the past month and trading near their 52-week high.

What To Know: Momentum has been fueled in part by optimism surrounding the company's push into cryptocurrency and tokenized assets, as outlined by CEO Vlad Tenev in a recent interview. Tenev said he sees significant long-term revenue potential if tokenization of real-world assets, such as stocks, real estate, and art, takes hold, comparing the concept to stablecoins but for equities.

In the second quarter, Robinhood posted revenue growth of 45% year-over-year, with crypto transactions nearly doubling and accounting for 30% of transaction-based revenue.

Short interest has risen, with 33.03 million shares sold short, representing 4.6% of the float, above the 3.64% peer average. This marks a 5.5% increase since the last report, suggesting some traders are positioning for downside despite the recent rally. Based on current trading volume, it would take about one day for short sellers to cover their positions.

The week also saw notable insider selling. Director Baiju Bhatt sold 1.58 million shares for approximately $157.9 million, while Chief Legal Officer Daniel M. Gallagher Jr. sold 225,000 shares worth about $22.5 million. Shares dipped in the immediate aftermath of these disclosures but recovered to end the week higher.

HOOD Price Action: Robinhood shares were up 4.06% at $115.75 at the time of writing, according to Benzinga Pro.

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