Robinhood Launches Trump Accounts for Children; HOOD Rises 11.29% on May 29

GateNews
HOOD10.43%
According to Robinhood's announcement, on May 29, the company launched Trump Accounts, a tax-advantaged investment account application for U.S. children under 18. Children born between 2025 and 2028 with valid Social Security numbers will receive $1,000 in initial funding from the U.S. Treasury, with families and employers eligible to contribute up to an additional $5,000 annually. Robinhood Securities will serve as the initial custodian. Stock markets reacted positively, with HOOD shares rising 11.29% following the announcement. The program is scheduled to launch officially on July 4, 2026.
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