Robinhood tumbles after November trading volumes post monthly drop across equities, options, and crypto
Robinhood Markets is getting crushed today, and not just because it’s the place where people go to buy AI stocks (which are under big pressure after Oracle’s earnings report). As stocks retreated in November, activity on the platform did, too.
(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)
The brokerage reported that November trading volumes fell across equities, options, and crypto compared to October. Equity notional volumes were down 37% month on month, options contracts traded were off 28%, and crypto notional volumes fell double digits. The bright spot: its prediction markets business is still in boom mode, with 3 billion contracts traded, up 20% versus the prior month.
Cantor Fitzgerald analyst Brett Knoblauch trimmed his price target on the shares to $152 from $155 following this release, noting that this monthly decline was somewhat expected.
