According to CoinMeta, the AMC stock token of Robinhood briefly soared to $18 after CEO Adam Allen questioned its transaction legitimacy, while the AMC stock remained below $3, further intensifying the scrutiny of tokenized stock trading. The related token once traded as high as $18.04 on the Robinhood chain before rapidly falling back. According to a 15-minute chart provided by Geckoterminal, the token suddenly soared after approaching the price of the underlying stock in early trades, accompanied by a surge in trading volume. The AMC stock closed on Friday near $2.65, with a gain of about 4.3%. Robinhood states that the stock token is a tokenized debt security issued by Robinhood Assets (Jersey) Limited, providing exposure to the underlying U.S. stocks and ETF, but does not grant token holders any legal or beneficial ownership in the company itself.