Robinhood said users in Europe could trade tokenized versions of popular stocks, including shares of private companies like OpenAI. Here's what to know.

Most notably, the company introduced tokenized stocks, which are essentially blockchain-based equity derivatives allowing the trading of over 200 U.S. stocks

Those upcoming catalysts already brought back a lot of bulls, and SoFi's stock nearly tripled over the past 12 months. But with an enterprise value of $19.3 billion, it still looks more reasonably valued than Robinhood at 6 times this year's sales and 22 times its adjusted EBITDA.