Robinhood shares fall 5% as October crypto volume slumps
HOOD traded at $77.22, down 5.08% from an $81.35 close, after reports showed October crypto volume fell 48% and securities lending revenue slid 43%.
Robinhood Markets (HOOD) shares traded at $77.22, down 5.08% from a previous close of $81.35, within a session range of $77.10 to $79.96. Volume was 4,837,005 shares. The stock remains well below its 52-week high of $139.75 and above its 52-week low of $63.52.
What moved the stock
Instant Telegram notifications for large on-chain moves.
Reports pointed to a contraction in the brokerage's crypto-linked activity. Robinhood Crypto volume sank 48% in October while net deposits hit $15.1 billion, according to tikr.com. finance.yahoo.com reported that securities lending revenues slid 43% in October, flagging risk to the fourth quarter. stocktwits.com reported the shares dropped overnight amid bitcoin weakness, alongside October figures showing 28.9 million funded customers.
Not all of the operating data pointed one way. 247wallst.com reported that Robinhood's prediction-market bets more than doubled as crypto trading crashed, and finance.yahoo.com reported that margin balances reached $23 billion.
Key facts
- Share price: $77.22, down 5.08%
- Previous close: $81.35
- Day range: $77.10–$79.96
- Volume: 4,837,005
- 52-week range: $63.52–$139.75
Source: bullishmarketcap.com
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