Robinhood Markets, Inc. has introduced the Robinhood Platinum Card, featuring Function as a core benefit to address the growing trend of treating health as a long-term asset. Eligible cardholders receive a complimentary annual Function membership, valued at $365, which includes access to more than 160 lab tests. This initiative reflects a shift in consumer spending, as health and wellness remain a category where Americans plan to increase spending in 2026.

The partnership aims to bridge the gap between financial and physical well-being. Function membership provides biannual testing, clinician-reviewed results, and a centralized platform for health data. The benefit is designed to make comprehensive health monitoring, previously associated with high-cost executive physicals, accessible to a broader audience.

"Shaping your future means more than just investing your money," said Sanjay Kotte, Chief Commercial Officer at Robinhood Money. "Bringing Function Health to the Robinhood Platinum Card reflects our belief that managing your health is just as important as managing your wealth."

The Robinhood Platinum Card is issued by Coastal Community Bank pursuant to a license from Visa U.S.A. Inc., while Robinhood Credit, Inc. acts as the financial technology company facilitating the offer. The card is currently available on an invite-only basis, with access requests managed through the Robinhood platform.

"A healthy person has a thousand wishes. A sick person has one," said Jonathan Swerdlin, Co-Founder and CEO at Function. "Robinhood has given millions the power to own their finances... Function has done the same for health."

Robinhood Markets, Inc stock is falling on Friday amid broader market pressures, extending a sharp drop from Thursday. The Nasdaq is down 2.67% while the S&P 500 has shed 1.27%. Investors are assessing the company’s recent strategic moves and financial maneuvers alongside shifting market conditions.

Bloomberg reported this week that Robinhood is looking to sell at least $400 million of asset-backed securities in four parts. According to the report, the total offering could potentially reach as large as $500 million. The bond would reportedly be backed by bills for its consumer credit cards. Bloomberg noted that initial price talk on the highest-rated portion of the deal is a premium of about 0.8 percentage points over the benchmark.

This fundraising effort comes as Robinhood pushes beyond its core brokerage business. The company launched a $695 platinum-plated card in March to compete with American Express, two years after debuting its no-fee Gold Card.

Earnings and Analyst Views

The stock movement follows mixed signals from Wall Street. On Thursday, Goldman Sachs maintained a Buy rating on Robinhood Markets and raised its price forecast to $137. Robinhood has a consensus price forecast of $119.41 based on the ratings of 27 analysts. Robinhood is scheduled to report second-quarter earnings on July 29. Analysts estimate earnings per share of 41 cents and quarterly revenue of $1.21 billion.

Critical Levels To Watch for HOOD Stock

From a trend perspective, HOOD is in a mixed spot: it’s trading 4.1% above its 50-day SMA ($92.96) and 14.2% above its 100-day SMA ($84.70), but it’s also 9.7% below its 20-day SMA ($107.15). That combination often reads as a longer-term uptrend that’s losing steam in the near term.

The 200-day SMA ($101.73) is also in play, with the stock trading 4.9% below it, so rallies may need to reclaim that long-term trend gauge to reset bullish confidence. The "death cross" that formed in February (50-day SMA below the 200-day SMA) still hangs over the chart as a reminder that longer-term trend repair has been uneven.