"Robinhood's 3% Cash Back Gold Credit Card Sparks Stock Rally"

Robinhood launches its first credit card, Robinhood Gold, offering 5% cash back on travel purchases and 3% cash back on everything else, signaling a move into the credit card sector as part of a broader expansion into financial services. The card, available to subscribers of the $5-per-month Robinhood Gold service, includes perks such as no foreign fees and a dedicated app for managing spending. CEO Vlad Tenev sees the move as catering to a more affluent customer base and aims for long-term profitability. This comes as Robinhood's share price has surged, marking a turnaround from its tumultuous period following its IPO.