How Did BONER Meme Coin Create One of Robinhood's Biggest Stories? - Robinhood Markets (NASDAQ:HOOD)

A meme coin called BONER locked up half of the tokenized float of Hims & Hers Health (NYSE: HIMS) on Robinhood Chain over the weekend, pushing the tokenized share price to about $132 versus the real stock at $28.84. The Defiant reported Robinhood allows only one authorized partner to create new tokenized HIMS shares and only while the NYSE is open, leaving 58,714 tokenized shares versus 233 million real shares. With the exchange closed, even modest buying found few sellers. When the NYSE reopened Monday, the partner bought real HIMS shares, minted tokens, and sold them into the market, sending the price back near $30.