Robinhood Shares Tumble After Quarterly Results Disappoint

Robinhood Markets Inc. saw its stock plunge 14% during Thursday’s trading session following the release of quarterly financial results that fell short of Wall Street projections. This sharp decline interrupted the trading platform’s remarkable rally, which had seen shares surge more than 100% year-to-date.

Despite the market’s negative reaction, Robinhood demonstrated substantial growth across key business segments. Transaction-based revenues jumped 72% to $319 million, with cryptocurrency revenue exploding 165% to $61 million. Options trading revenue climbed 63% to $202 million, while net deposits reached a record $10 billion.

Trading volumes showed exceptional strength throughout the quarter. Equity volumes increased 65% to $286.2 billion, and cryptocurrency trading volumes grew 112% to $14.4 billion. The company’s Gold subscription Read more...