Robinhood stock popped this week on news that European users could trade "tokenized" stock in private companies. OpenAI distanced itself from the plan.

Robinhood’s stock hit record highs with its crypto token launch, but shares slid after OpenAI denied involvement, warning the tokens aren’t legitimate equity.

Robinhood earlier this week announced it would give away to eligible European users small "tokenized" stakes in private companies OpenAI and SpaceX, an offering OpenAI said it did not endorse.