Průzkum společnosti Mizuho ukázal, že 94 % z více než 600 aktivních uživatelů Robinhood by obchodovalo perpetuální futures kontrakty na jednotlivé akcie, pokud by je platforma zavedla.
Robinhood (HOOD -1.56%) hasn't announced any plans to launch single-stock perpetual futures on its platform yet, but there seems to be a lot of pent-up demand for them. In a recent Mizuho (MFG -1.44%) survey of over 600 active Robinhood users, 94% of respondents were willing to trade single-stock perpetual futures if they became available. Let's see why that could be bullish for Robinhood's stock -- which has declined nearly 30% over the past 12 months.
In traditional investing, investors can buy options to either buy a stock (a call) or sell it (a put) at a fixed strike price with a set expiration date. As an option approaches its expiration date, its value declines because there is less time remaining for the stock to make a major move.
Image source: Getty Images.
Single-stock perpetual futures are similar to calls and puts, but they don't have strike prices or expiration dates. Instead, an investor simply takes a bullish or bearish position in a stock, deposits cash as collateral, and chooses a leverage ratio that multiplies their gains or losses.
For example, depositing $200 at 5x leverage gives you $1,000 of exposure to an underlying stock. If that stock starts trading at $100 and rises by $10, your $1,000 position grows to $1,100 -- giving you a $100 profit on your $200 deposit. If it drops 10% to $90, it shrinks to $900 -- resulting in a $100 loss. If the stock drops near $80, the platform automatically liquidates the entire position before it consumes your entire $200 deposit.
To keep the contract's price tethered to the actual stock price without fixed strike prices or expiration dates, the buyers and sellers pay each other small funding fees. When buyers push the contract's price above the actual stock, the longs pay the shorts a periodic fee; when selling pressure pushes it lower, the shorts pay the longs a periodic fee.
HOOD Robinhood Markets$95.07-$1.51 (-1.56%)
NASDAQ · As of 4:00 PM ET 10/23/26
Why could this be bullish for Robinhood?
Robinhood already launched perpetual futures for cryptocurrencies in the U.S. and Europe this year, so it seems like a natural move to launch them for individual stocks as well. It would also complement its forward-thinking strategy of entering new markets -- including tokenized real-world assets (RWAs) and prediction markets -- before traditional brokerages.
Robinhood's stock slumped over the past year as rising interest rates and Treasury yields curbed the market's appetite for riskier investments. But many of its funded customers -- which grew 7% year over year to 28.4 million in the second quarter of 2026 -- could still be interested in using single-stock perpetual futures to trade some more volatile stocks with less capital. Therefore, expanding into that nascent market could be a bullish sign for Robinhood's stock.
Robinhood Markets (HOOD -1.56%) started with a simple idea: Make it easier for ordinary people to invest.
That sounds like a single business. But it isn't anymore. By the second quarter of 2026, Robinhood had 13 business lines generating at least $100 million of annualized revenue. That's up from just one in 2019 and nine in 2024.
At first, this might look like another impressive growth statistic. But digging deeper, I think it tells us something more important -- that Robinhood is getting better at turning one customer relationship into multiple sources of revenue.
Image source: Getty Images.
From one business to many Robinhood originally built its business around stock trading. But it didn't stop there. It kept adding products. Options became an important revenue stream. Crypto followed. Robinhood added margin lending, cash products, Gold membership subscriptions, securities lending, prediction markets, credit cards, etc. Each product gave Robinhood another way to make money from its customers.
That's an important strategy. A traditional broker might make money when a customer trades. Robinhood increasingly has opportunities to make money, whether that customer is trading, holding cash, paying for a subscription, using a card, borrowing against securities, or participating in other financial products.
The company doesn't need every product to become enormous. It needs enough of them to become meaningful. So far, that's happening.
HOOD Robinhood Markets$95.07-$1.51 (-1.56%)
NASDAQ · As of 4:00 PM ET 10/23/26
The customer matters more than the product This is where Robinhood's strategy is particularly important.
Imagine someone opens a Robinhood account to buy a few stocks. That customer might initially generate very little revenue. But over time, Robinhood can offer more products. The customer could subscribe to its Gold membership. Move more cash onto the platform. Trade options. Use the Gold Card. Buy crypto. Participate in prediction markets, and more. The customer doesn't need to find another financial company for each activity.
As for Robinhood, it can continue to expand the relationship, generating more revenue over time. Better still, it doesn't have to spend on customer acquisition costs, making growth highly efficient over time.
A few numbers show how customers are becoming more valuable. Robinhood ended the second quarter with 28.4 million funded customers, up 7% from a year earlier. Gold subscribers reached 4.8 million, up 39%, while average revenue per user increased 24% to $187.
That's an interesting combination. More customers. More products. More revenue per customer. If Robinhood can keep all three growing, the business could compound in ways that a simple trading platform cannot.
Diversification matters Another benefit of this strategy is that it reduces the volatility of Robinhood's traditional trading products. The idea is simple. Trading activity can be unpredictable. When markets become active, customers tend to trade more. When markets become quiet, transaction activity can slow.
Robinhood has gradually built other revenue streams that don't depend entirely on customers buying and selling stocks. In the second quarter, transaction-based revenue rose 44% year over year to $776 million. But Robinhood also generated $389 million of net interest revenue and $143 million of other revenue.
That mix gives the company more than one engine. If one product slows, another can potentially offset some of the weakness. That's especially valuable for a company whose original business depends heavily on market activity.
There's a catch that investors should understand, though. When Robinhood says a business has more than $100 million in annualized revenue, it doesn't mean the business generated $100 million in the past year. Robinhood calculates the figure by taking the relevant quarter's revenue and multiplying it by four. So, investors shouldn't treat the 13 businesses as 13 mature $100 million companies.
But the milestone still matters. It shows that Robinhood has created multiple products capable of reaching meaningful scale. Besides, the speed at which the company is building these products is remarkable, considering that it only had one $100 million product (options trading) in 2019.
What does it mean for investors? Robinhood has been in an expansion mode over the last few years, thanks to its strategy of building products that customers want to use. If it can continue to build products that customers want, the company could create a powerful flywheel: More customers give Robinhood a larger audience. More products give it more ways to monetize that audience.
Higher revenue gives Robinhood more resources to invest in new products. Successful products, in turn, make the platform more valuable to customers. That's how it can gradually become something much bigger.
In other words, the 13-business milestone doesn't prove Robinhood will become a great long-term compounder. But it gives investors an important clue on how the company is evolving, and that its long-term growth strategy is already gaining traction.
Tržby Robinhood z kryptoměn ve 2. čtvrtletí meziročně klesly o 38 % na 100 milionů USD, ačkoli objem kryptoměnových obchodů v srpnu vzrostl o 61 % na 17,5 miliardy USD.
Robinhood's crypto revenue has been sliding for three straight quarters, but a surge in trading activity toward the end of Q3 hints that a turnaround may be closer than analysts expected. The question is whether it will be enough to…
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In Q2 2026, Robinhood’s (NASDAQ:HOOD | HOOD Price Prediction) crypto revenue fell 38% year over year to $100 million. This marks the company’s third consecutive quarter of decline. Robinhood is projected to release its third-quarter results after the market closes on October 27, though the exact date is not yet confirmed.
Despite the downturn, crypto trading activity picked up in August and September. Did this increase help reverse the decline in Robinhood’s crypto revenue?
Robinhood’s Crypto Revenue Fell While Equities and Event Contracts Grew
Crypto revenue accounted for just 7.6% of Robinhood’s $1.31 billion in total revenue in Q2. A year prior, crypto played a much larger role in the company’s earnings. In Q3 2025, crypto revenue soared over 300% to $268 million, accounting for 21% of total sales.
Robinhood’s crypto revenue depends on trading activity and cryptocurrency prices, as the company primarily earns from customer trades. After the crypto boom peaked, crypto revenue fell to $221 million in Q4 2025, $134 million in Q1, and $100 million in Q2.
However, other business segments continued to expand. In Q2, revenue from equities surged by 95%, and event contracts—financial products tied to specific events—generated $156 million, surpassing the company’s crypto earnings for the same quarter.
Analysts Expect Higher Q3 Revenue but Lower Earnings Per Share
Analysts are optimistic about Q3, predicting earnings per share (EPS) of $0.54, up from $0.46 three months ago. They anticipate total revenue to reach around $1.41 billion.
Metric
Consensus
Year Ago
YoY Change
Q3 2026 EPS
$0.54
$0.61
Down 11.0%
Q3 2026 Revenue
$1.41 billion
$1.27 billion
Up 11.0%
FY2026 EPS
$2.15
$2.05
Up 4.9%
FY2026 Revenue
$5.28 billion
$4.47 billion
Up 18.1%
Of the 29 analysts covering the stock, 6 recommend a strong buy, 18 a buy, 3 a hold, 1 a sell, and 1 a strong sell. Their average price target of $135 is roughly 38% above the stock’s premarket price.
Even with this optimism, Robinhood’s shares have struggled. The stock is trading around $98 premarket, down 4.1%, and has lost 20.7% over the past month amid a broader tech sell-off.
Additionally, CEO Vlad Tenev sold approximately $72.8 million in stock on September 22 and October 5. However, these sales followed a scheduled Rule 10b5-1 trading plan established on September 5, 2025, as indicated in his Form 4 filings.
Robinhood’s Crypto Trading Picked Up After a Slow Start to Q3
During the July 29 earnings call, management expressed caution about the crypto segment. Chief Financial Officer Shiv Verma noted that crypto was “probably a little slower than Q2 so far,” while trading volumes in equities, options, and event contracts remained steady compared to Q2.
However, crypto trading rebounded as the quarter progressed. August saw crypto trading volume rise 61% to $17.5 billion, with late-September trading running 25% above the August average. Analysts at BTIG reported that September’s figures point to a generally strong Q3.
That said, even a strong finish may not turn the tide significantly. Robinhood hasn’t released complete crypto trading volume for the quarter yet, making a direct comparison with Q2 difficult. Moreover, while Bitcoin (CRYPTO:BTC) has gained 31.4% over the past 90 days, it still trades 21.8% below its price a year ago, making last year’s $268 million in crypto revenue a high bar to clear.
Event Contracts and Trump Accounts Could Shape Robinhood’s Q3 Report
Another focal point will be event contracts. Rothera, Robinhood’s exchange for event contracts, has quickly become one of the top three U.S.-designated contract markets, federally regulated exchanges for futures and event contracts.
Additionally, the launch of Trump Accounts—investment accounts for children—on July 4 has attracted over 7 million sign-ups and nearly $1.5 billion in deposits. The Q3 report will likely show how much these accounts contribute to Robinhood’s new-customer deposits.
Competitors are also chasing Robinhood’s customers. For instance, Interactive Brokers lets clients stake Ethereum directly on its platform.
Can Robinhood’s Crypto Revenue Recover in Q3?
Given the strong trading volumes in August and September, Robinhood’s crypto revenue could exceed Q2’s $100 million. However, surpassing last year’s $268 million figure seems unlikely while Bitcoin remains over 21% below its value from a year ago. Since crypto accounted for only 7.6% of total sales in Q2, performance in options, equities, event contracts, and interest income may better reflect the quarter’s overall results.
Ultimately, even if crypto revenue rebounds, it may not significantly affect the stock price. Historically, Robinhood shares have fallen on earnings day after each of the last four reports, even though three of those reports beat estimates. Thus, a successful Q3 might not drive gains unless management provides positive updates on October trading activity, a crucial month when Bitcoin began to show volatility.
Contact [email protected] for any questions or corrections.
Robinhood Markets očekává ve čtvrtletí zisk na akcii ve výši 0,55 USD, což by představovalo meziroční pokles o 9,8 %, při tržbách ve výši 1,42 miliardy USD, meziročně vyšších o 11,4 %.
Robinhood Markets, Inc. (HOOD - Free Report) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 27. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents a year-over-year change of -9.8%.
Revenues are expected to be $1.42 billion, up 11.4% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.95% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Robinhood Markets?For Robinhood Markets, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.39%.
On the other hand, the stock currently carries a Zacks Rank of #1.
So, this combination indicates that Robinhood Markets will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Robinhood Markets would post earnings of $0.44 per share when it actually produced earnings of $0.62, delivering a surprise of +40.91%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Robinhood Markets appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
SEC schválila binární opce navázané na více než 100 ukazatelů 23 společností; Robinhood je má jako první broker pro drobné investory nabídnout po získání dalších povolení.
Key Takeaways HOOD is likely to be the first retail brokerage to offer KPI contracts tied to metrics across 23 companies.KPI contracts to expand active trading and complement HOOD's options, equities and prediction markets.Pending clearances and fee waivers through 2026 may delay monetization and limit near-term revenue growth.
Robinhood Markets, Inc. (HOOD - Free Report) is expected to gain a new revenue growth opportunity after the Securities and Exchange Commission (SEC) approved Cboe Global Markets, Inc.’s (CBOE - Free Report) proposal on Oct. 13 to list binary options tied to company-specific key performance indicators (KPIs). Robinhood will likely become the first retail brokerage to offer such contracts, potentially broadening its event-driven trading offerings and creating an additional source of transaction-based revenues.
The contracts will cover more than 100 metrics across 23 companies, including NVIDIA’s data-center revenues, Apple's iPhone revenues and Robinhood's funded-customer count. The offering would let customers trade on specific corporate performance indicators, expanding the range of event-driven products on HOOD's platform.
The proposed KPI contracts are likely to attract retail investors seeking to trade on corporate performance rather than solely on conventional asset-price movements. By extending its product lineup to company-specific business metrics, Robinhood is expected to expand its reach to customers interested in tracking developments across technology and other corporate sectors.
The initiative aligns with HOOD's broader strategy of expanding its active-trading ecosystem through options, futures, prediction markets and other event-driven products. Transaction-based revenues recorded a compound annual growth rate (CAGR) of 57.7% over the six years ended 2025, primarily driven by options and equities trading. The prediction markets business is also gaining traction, with cumulative volumes exceeding 45 billion contracts since launch. The addition of KPI-linked contracts is expected to provide another avenue to engage active traders and encourage activity across the platform.
If customer adoption builds, the offering will likely complement Robinhood's existing trading products and support further transaction-revenue growth. However, its contribution will depend on trading volumes, customer demand and the company's ability to monetize the contracts over time.
HOOD Faces Near-Term Regulatory and Monetization HurdlesTrading has not yet started despite the SEC's approval, as separate clearing approvals remain pending. The launch timeline and completion of the remaining operational requirements will therefore determine when Robinhood can begin offering the contracts.
Additionally, Robinhood and Cboe plan to waive fees through the end of 2026, limiting immediate monetization. Although the fee waiver is expected to encourage initial participation, the offering's longer-term revenue contribution will depend on sustained trading activity and customers' willingness to continue trading once fees are introduced.
Regulatory uncertainty presents another consideration. Robinhood's expansion into prediction markets has already exposed the business to state-level challenges over whether certain event contracts should be treated as gambling or federally regulated derivatives. Although the newly approved KPI contracts are distinct from sports-event contracts, broader scrutiny of event-driven products could increase compliance requirements or complicate future expansion.
Our Take on HOOD’s New Revenue Growth SourceThe SEC's approval provides Robinhood with another opportunity to broaden its active-trading ecosystem and diversify transaction-based revenue. Given the company's existing momentum in options, equities and prediction markets, KPI-linked contracts are likely to complement its product expansion strategy and attract customers interested in trading on corporate performance.
However, the opportunity remains at an early stage, with trading yet to begin. Regulatory developments and customer adoption will also influence the product's commercial potential. HOOD's ability to turn this into a meaningful growth driver will depend on a successful launch, sustained trading volumes and monetization after the promotional period ends.
Over the past year, shares of Robinhood have declined 24.6% against the industry’s 7.3% gain.
One-Year Performance
Image Source: Zacks Investment Research
Robinhood sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Similar Expansion Efforts by Robinhood’s PeersCoinbase Global (COIN - Free Report) is expanding its stablecoin and trading businesses through strategic partnerships. On Oct. 8, the company announced a partnership with Samsung to integrate USDC into Samsung Wallet for U.S. users, with launch expected in late October. Coinbase will provide custody infrastructure through Coinbase Prime, alongside licensed infrastructure partner Bastion.
The deal will likely boost USDC adoption through digital payments and cross-border transfers, supporting stablecoin-related revenues through Coinbase's agreement with Circle and creating additional custody and payments opportunities. Coinbase is also extending stablecoin infrastructure to community banks and credit unions through its Moov partnership and expanding its international trading business through regulated derivatives in Canada.
Interactive Brokers Group (IBKR - Free Report) continues to expand its multi-asset trading platform through product innovation, AI integration and broader market access. In May, the company introduced a unified prediction-markets interface, expanded its cryptocurrency offerings and enabled stablecoin transfers to external wallets. It has also integrated AI tools, including Claude, ChatGPT and Grok, to enhance investment research and portfolio analysis.
These initiatives are expected to strengthen client engagement, attract new accounts and increase trading activity, supporting commission-based revenues and interest income from client balances. Expanded cryptocurrency, stablecoin and prediction-market offerings will diversify Interactive Brokers’ revenue growth opportunities, while AI-powered tools may improve client retention and platform usage.
Generální ředitel Robinhood Vlad Tenev prodal v rámci předem stanoveného plánu 375 000 akcií HOOD za 42,64 milionu USD a nadále drží akcie v hodnotě zhruba 5,17 miliardy USD.
Robinhood's CEO and Cathie Wood both dumped tens of millions in HOOD shares within days of each other, which looks alarming until you understand the two very different reasons behind each sale.
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The chief executive of Robinhood (NASDAQ:HOOD | HOOD Price Prediction), Vlad Tenev, sold 375,000 shares on October 5, 2026, for about $42.64 million. Over the next four sessions, Cathie Wood’s ARK Invest also sold shares of Robinhood, and together those headlines can look like insiders and a well-known investor leaving the stock.
The filings show that Tenev’s sale followed a schedule he set more than a year earlier, and ARK’s sales were portfolio cuts. The stock closed at $109.02 on October 9, 2026, up 1.88% in the last session of the selling. Both sellers still hold large positions, and neither sale says much about the business ahead of earnings.
What Tenev’s Form 4 Shows A Form 4 is the filing an insider must submit shortly after trading the company’s stock. Tenev’s was filed October 7. It shows he converted Class B shares, which carry extra voting power, into ordinary Class A shares. He then sold them in three blocks at a combined average of about $113.72 a share.
The sale ran under a Rule 10b5-1 plan, which is a trading schedule set in advance. He adopted it on September 5, 2025. Plans like this keep executives from timing trades around private information, and that protects shareholders too.
Tenev’s remaining stake is far larger: he still directly holds 47,419,572 Class B shares, worth about $5.17 billion. Chief Legal Officer Dan Gallagher sold 10,000 shares under his own plan and still holds 499,943.
ARK’s Four Sessions of Selling ARK sold about 63,000 shares on October 6. Sources report slightly different counts for that day. The larger sales came next: 151,903 shares through its main fund on October 7, worth about $16.6 million, and 202,825 shares on October 8, worth about $21.7 million.
Only one source reports the October 9 sale of 19,098 shares. Valued at each day’s closing price, the four sessions add up to roughly $47.5 million. When a fund cuts a position, the reasons are usually position size, the fund’s rules, and investor withdrawals. That tells you little about the company itself.
Robinhood closed at $114.11 on October 5 and fell to $107.01 by October 8. Its market value of $98.02 billion is back below $100 billion.
The stock trades about 29% below its 12-month high of $153.56. It was already down 28.49% over the past year. The selling landed in the middle of a decline that had been going on for months.
Why the Bull Case Still Holds On October 5, Bank of America raised its price target to $156 from $140 and kept its Buy rating. In the second quarter, revenue grew 32% to $1.308 billion, and the company spent $414 million buying back its own stock.
Robinhood also added $25 million of Bitcoin (CRYPTO:BTC) to its balance sheet. That’s a small amount for a company this size. But it ties part of a brokerage’s book value to a volatile asset.
What HOOD Investors Should Watch Into Earnings The selling leaves the investment case intact. One sale was mechanical, and the other was a fund manager’s choice, and neither changes how much Robinhood can earn. With the stock about 29% below its high, the share price already reflects a good deal of caution.
Third-quarter results are scheduled for October 27, 2026, though the company has not confirmed the date. Net deposits against the prior quarter’s $21.7 billion and whether crypto revenue keeps shrinking will be worth watching.
Closing below $107.01 after a weak deposit number would undercut this view. A move back above $114.11, the October 5 close, would show investors have moved past the selling.
Contact [email protected] for any questions or corrections.
Generální ředitel společnosti Robinhood Vladimir Tenev 5. října prodal 375 000 akcií třídy A za 42,6 milionu USD, nadále však drží 47,4 milionu akcií třídy B.
A CEO’s stockholding can fall to zero without signaling a loss of faith in his company. Robinhood Markets, Inc. (NASDAQ:HOOD) CEO Vladimir Tenev sold $42.6 million worth of shares, leaving him with no directly held Class A stock — but the SEC filing reveals a crucial distinction between the shares he sold and the ownership he still retains.
The $42 Million SaleTenev sold 375,000 shares on Oct. 5 at a weighted-average price of approximately $113.72, according to his Form 4 filing with the Securities and Exchange Commission, filed Oct. 7. The transaction generated approximately $42.6 million.
The headline-grabbing detail is that Tenev’s directly held Class A share balance fell to zero following the sale. But the filing shows he still directly held 47.4 million Class B shares, along with 6,907 Class A shares held indirectly through a living trust.
That distinction matters because Robinhood has a dual-class share structure. Its Class B shares carry greater voting power than Class A shares, giving holders of the former more influence over corporate decisions relative to their economic ownership. Tenev’s sale therefore reduced his directly held Class A position without eliminating his broader stake in the company.
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The Fine Print Changes the StoryThe transaction also wasn’t an entirely new decision made on the day the shares were sold. Tenev’s Form 4 states that the sale was executed under a Rule 10b5-1 trading plan adopted on Sept. 5, 2025.
These plans allow corporate insiders to schedule stock transactions in advance under predetermined instructions, helping separate trading decisions from access to potentially material nonpublic information. They don’t automatically signal a bullish or bearish sale, but the timing and terms provide important context for investors interpreting insider activity.
Tenev’s latest transaction also follows earlier sales under the same plan, according to previous SEC filings. The pattern makes it more useful to examine the planned schedule and remaining holdings than to treat the latest sale as an isolated verdict on Robinhood’s prospects.
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What HOOD Investors Should WatchInsider selling can reflect diversification, liquidity needs or other personal financial considerations. Without further evidence, the transaction alone does not establish that Tenev expects Robinhood shares to fall. Equally, a prearranged plan does not make the sale irrelevant: investors can still track the pace of insider disposals and changes in executives’ ownership.
For HOOD shareholders, the more meaningful signals remain Robinhood’s trading activity, customer growth, product expansion and ability to generate revenue across market cycles. Tenev has converted a portion of his holdings into cash, but the filing does not show him abandoning his ownership position.
Investors should distinguish between a large headline number and a genuine change in an executive’s economic exposure before drawing conclusions about the stock.
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Photo courtesy: Thrive Studios ID / Shutterstock.com
Robinhood nabízí klientům společnosti Webull bonus 3 % za převod portfolia poté, co zpráva Kongresu označila vazby společnosti Webull na Čínu za bezpečnostní riziko.
Robinhood Markets (NASDAQ:HOOD) appears poised to capitalize as Webull Corporation‘s (NASDAQ:BULL) stock struggles after a congressional report called it a security risk because of its business ties to China.
"Robinhood is proudly American, founded here to give everyday investors more access to the financial system. If you’re still on Webull, bring your portfolio home and get 3% on your transfer today," Robinhood tweeted.
The transfers covered are those made from Webull before Oct. 16, 2026. Robinhood regularly offers promotions for customers who transfer their accounts, but the 3% may be among the highest matches offered.
Robinhood’s direct targeting of Webull and its "proudly American" wording may be among its most aggressive in recent years.
"American assets should be at America’s favorite broker. We’re offering 3% on transfers from Webull today," Robinhood CEO Vlad Tenev tweeted.
Robinhood and Tenev are taking to social media to take on Webull after the House Select Committee on China found that the rival’s ownership and infrastructure were tied to the People’s Republic of China. The investigation raises concerns that U.S. customer data and deposits could be at risk.
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Can Robinhood Win?Robinhood is one of the leading U.S. brokerages, and it regularly competes with Webull among retail investors, day traders, and swing traders based on the platform’s ease of use and available tools.
Fears of China connections at Webull could push customers to look for a new platform.
Robinhood has been gaining customers away from legacy stock brokers and taking share from Webull could be another major win for the company.
Robinhood ended August with 28.6 million funded accounts, up about 120,000 from July. The company also reported $384 billion in platform assets in August, up 8% from July and up 26% year-over-year.
August saw strong equity trading for Robinhood, while options contracts were down from July but up 50% year-over-year.
Robinhood reported those figures on Sept. 10.
Any substantial gains from Webull could be communicated by Robinhood when it reports its September figures or its third-quarter financials, which are set for Oct. 27. While gains from Webull will not be factored into those numbers, Robinhood could choose to share them to excite investors.
Otherwise, investors will have to wait until Robinhood’s fourth-quarter financial results to see if the Webull report led to gains for the rival.
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Photo courtesy: Thrive Studios ID / Shutterstock.com
Robinhood quietly bought Bitcoin for its own treasury the same morning its stock shed over $2 billion in market value, but the crypto purchase and the selloff tell completely different stories about where this company is actually heading.
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Robinhood (NASDAQ:HOOD | HOOD Price Prediction) closed at $109.51, while Wall Street’s average price target stands at $133.36, a gap of about 21.8%.
The day’s 2.22% decline left the company worth $98.46 billion. That pushed it back under the $100 billion mark it had held one session earlier at about $100.7 billion.
That same morning, a senior executive disclosed that Robinhood had bought $25 million of Bitcoin (CRYPTO:BTC) for its corporate treasury. The two events share a date, and the selloff had other causes.
The stock is down 10.32% over the past month. Even so, Barclays raised its target to $132 from $105, and Bank of America lifted its target to $156 from $140, even as shares slipped.
Prices falling while targets rise suggests one side is misreading the business, and the explanation lies in a revenue mix that depends far less on crypto than headlines suggest, and in a third-quarter report due later this month.
Three Separate Forces Pulled Robinhood Lower Bitcoin fell about 3% and traded around $83,700 that morning. That directly pressures the crypto-linked part of Robinhood’s business.
The wider hit came from a rival. A congressional select committee report called a competing broker’s China ties a national-security risk, and Webull (NASDAQ:BULL) fell 19.09% to $5.89 while Interactive Brokers (NASDAQ:IBKR) dropped 3.14%.
ARK also disclosed selling 151,903 Robinhood shares worth about $17.0 million. That added supply into a weak session.
The chief executive sold 375,000 shares earlier in the week at about $113 to $115 under a pre-scheduled selling plan adopted in September 2025. Because the timing was fixed more than a year ago, the sale provides no information about management’s outlook.
A $25 Million Treasury Buy Management Calls Small The purchase surfaced in an interview with no filing or press release. The company has disclosed neither the purchase date nor the amount of bitcoin acquired.
Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto and international, played down the size himself: “Robinhood is a massive company at this point, with a market cap in the $100 billion range.
So the $25 million worth of bitcoin is not going to change a lot of the current trajectory of the company.” The position works as a gesture toward Robinhood’s crypto-native customers and is far too small for bitcoin’s price to move the company’s earnings.
Prediction Markets Now Outearn Crypto at Robinhood Second-quarter crypto revenue was $100 million, down 38%, out of $1.31 billion in total revenue. Prediction-market revenue reached $156 million in the same quarter.
This explains why analysts can raise targets while the stock falls. A bitcoin decline hurts one line while the other businesses now set the earnings path.
Equities revenue rose 95%, options revenue rose 29%, and Gold subscribers climbed to 4.8 million. Management said 13 businesses reached $100 million in annual recurring revenue.
Of 29 analysts covering the stock, six rate it Strong Buy, 18 Buy, three Hold, and one each Sell and Strong Sell.
Perpetual futures were announced at the Sept. 29, 2026 summit. They haven’t launched, so no target should rely on that product.
Robinhood first closed above a $100 billion market value in August 2025. Swings around that level are routine for a stock with a beta of 2.354.
At about 45 times forward earnings, the stock prices in strong growth and leaves little room for a weak quarter.
What Robinhood Investors Need to See Next Robinhood’s underlying business looks solid. The day’s decline came from bitcoin’s move, a sector scare linked to a rival, and a fund’s disclosed sale. The revenue mix supporting the targets remains solid.
The bull case depends on diversification holding. If prediction markets keep growing while equities and options provide transaction revenue, a weak crypto market becomes a minor drag.
The outlook would weaken if crypto revenue keeps shrinking while prediction-market volume stalls, because the multiple would have no new growth to justify it. Regulatory pressure on event contracts is the specific risk.
Interactive Brokers has less crypto sensitivity in its business, although it fell in the same selloff.
The test arrives with third-quarter results on Oct 27, 2026. If prediction-market revenue again tops crypto revenue, the targets look better supported, and if both lines weaken, expect the targets to start coming down.
Contact [email protected] for any questions or corrections.
Ohio znovu nařídilo společnosti Robinhood Derivatives ukončit kontrakty na sportovní události do 16. října, což ohrožuje rychle rostoucí příjmy z predikčních trhů.
Key Takeaways Robinhood faces Ohio enforcement that could restrict sports-event contracts despite federal regulation.Event-contract revenues surged more than tenfold to $156 million as volumes hit a record 13.6 billion.Broader state restrictions could reduce HOOD's contract volumes and limit Rothera's revenue potential. Robinhood Markets’ (HOOD - Free Report) rapidly expanding prediction-market business is encountering a potentially meaningful regulatory hurdle as U.S. states step up efforts to treat sports-event contracts as gambling rather than federally regulated derivatives.
The Ohio Casino Control Commission has reasserted its cease-and-desist order against Robinhood Derivatives, requiring compliance by Oct. 16. The action follows the Sixth Circuit’s Sept. 25 ruling allowing Ohio to enforce its gambling laws against sports-event contracts despite the platforms’ federal commodities-law arguments. Ohio’s order is particularly significant because it covers companies not only offering such contracts but also facilitating them through futures commission merchant or designated contract market activities.
The timing matters for Robinhood. Event-contract revenues surged more than tenfold year over year to $156 million in the second quarter of 2026, exceeding revenues from both equities and cryptocurrencies, while volumes reached a record 13.6 billion contracts. Prediction markets have consequently emerged as one of the fastest-growing monetization engines.
Regulatory pressure is spreading across the industry. Ohio sent similar notices to nine other firms, including Coinbase Global (COIN - Free Report) , Gemini Space Station (GEMI - Free Report) , Polymarket, ProphetX and Webull Corporation (BULL - Free Report) . In Connecticut, ProphetX, Gemini Space Station and Webull have already exited following regulatory action, while Robinhood, Coinbase and Polymarket remain in discussions with regulators. This indicates that the industry could face a fragmented regulatory environment in which platforms remain federally regulated yet lose access to individual states. If more jurisdictions follow suit, the addressable sports-contract market and transaction volumes could gradually narrow for HOOD and its peers, including Coinbase, Gemini Space Station and Webull.
A broader state-by-state clampdown could also complicate Robinhood’s Rothera strategy. The CFTC-regulated exchange and clearinghouse, established through its joint venture with Susquehanna, began routing Robinhood event contracts in June and contributed $17 million of second-quarter event-contract revenues. Restrictions covering both exchanges and firms facilitating contracts could limit volumes and reduce the economics the company hoped to capture through vertical integration.
For HOOD, prediction markets remain an attractive diversification opportunity, but rapid growth now comes with greater regulatory uncertainty. Continued adoption could support revenue growth, while broader state enforcement could temper volumes and Rothera’s monetization potential. The evolving federal-state regulatory divide warrants monitoring when assessing HOOD’s growth outlook and valuation.
Robinhood’s Price Performance, Valuation & Estimate AnalysisOver the past six months, Robinhood shares have jumped 55.9%, outperforming the industry’s 5.5% growth.
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HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.64X compared with the industry average of 3.05X.
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The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 4.4%. The trend is likely to continue next year, with earnings expected to jump 35.4%. In the past 30 days, earnings estimates for 2026 and 2027 have been revised higher to $2.14 and $2.90 per share, respectively.
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HOOD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Robinhood uvedl, že více než 150 000 zákazníků si otevřelo účty pro AI agenty a že tito agenti využívají nástroje společnosti téměř 30 milionkrát denně.
Back in May, Robinhood (HOOD -1.86%) launched Robinhood Agents, an in-app feature that allows its users to connect AI models (including those from OpenAI and Anthropic) to their accounts to analyze markets, build strategies, and even trade stocks and cryptocurrencies.
At its recent HOOD Summit in Houston, Robinhood revealed that over 150,000 of its customers had already opened agnetic trading accounts, and that those agents were using Robinhood's tools nearly 30 million times per day. CEO Vlad Tenev said that integration gave retail traders the "tools once reserved for hedge funds, big banks, and quant firms."
Image source: Getty Images.
Allowing an AI agent to actively place trades might sound like a risky move, but Robinhood believes that strategy could strengthen its core business. Let's see how Robinhood Agents work, the guardrails that limit their abilities, and their long-term growth potential.
How do Robinhood Agents work? Robinhood users must open a new sub-account with a defined balance to access Robinhood Agents' AI-driven trades. That isolation blocks the agents from accessing their main accounts.
By default, Robinhood Agents require users to manually approve drafted stock and crypto trades. However, more daring investors can hand over the reins and have the AI agents automatically execute trades based on their own strategies, with no user intervention. In automated trading mode, the AI agents can only make trades based on the user's established boundaries -- which can include a capped allocation size or specific risk thresholds.
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How could Robinhood Agents strengthen the company? Robinhood doesn't charge commissions on its trades, but it sells its bundled orders to high-frequency trading firms that can execute them at more favorable prices. Those payment-for-order-flow (PFOF) fees account for most of its transaction-based revenue.
To keep growing, Robinhood needs to continue gaining new accounts and have those customers place more active trades. That's why it flourished during the buying frenzy in meme stocks and cryptocurrencies during the pandemic, but struggled when rising interest rates drove investors to park their cash in more conservative, income-generating investments.
Robinhood Agents could smooth out those trading volumes by automatically executing more trades. That could be a crucial strategy in this market, with the 10-Year Treasury yield hovering near its highest level since 2007 and chilling the demand for riskier investments.
Robinhood Agents also complements the company's broader strategy of entering next-gen trading markets -- including prediction markets (through Robinhood Derivatives), tokenized real-world assets (RWAs), and tokenized stocks -- before its bigger competitors. That expansion could also increase the stickiness of its ecosystem and widen its competitive moat.
But could this be a premature move? Most traditional brokerages haven't yet connected their platforms to AI models, giving Robinhood a first-mover advantage in this nascent market. However, it could also be premature for Robinhood to dive headfirst into the market, as the risks remain unknown.
Plenty of smaller companies have already tried to automate stock and crypto trades with AI-powered trading apps. Still, many of those efforts flopped because they failed to understand one of the core tenets of investing: past performance never guarantees future gains. AI models can crunch past data, but basing future trades on those historic patterns can be disastrous. The market is also often irrational, driven by human emotions rather than cold, machine-like logic.
Robinhood knows this; that's why it's surrounding its AI agents with guardrails. So while its big AI bet might eventually pay off, it probably won't replace manual trading anytime soon. After all, 150,000 accounts only equals 0.5% of its 28.4 million funded customers.
Is Robinhood's stock still worth buying today? From 2025 to 2028, analysts expect Robinhood's revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at CAGRs of 21% and 24%. Its stock isn't a screaming bargain at 34 times next year's adjusted EBITDA, but its popularity among younger retail investors and its ambitious expansion plans could justify that higher valuation.
Akcie společnosti Robinhood Markets za poslední měsíc klesly o 7,7 %, přesto Zacks zvýšil odhad EPS pro aktuální rok o 1 % a udělil akcii rating č. 1 (Strong Buy).
Robinhood Markets, Inc. (HOOD - Free Report) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Over the past month, shares of this company have returned -7.7%, compared to the Zacks S&P 500 composite's +0.6% change. During this period, the Zacks Financial - Investment Bank industry, which Robinhood Markets falls in, has lost 7.8%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, Robinhood Markets is expected to post earnings of $0.52 per share, indicating a change of -14.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +1% over the last 30 days.
The consensus earnings estimate of $2.13 for the current fiscal year indicates a year-over-year change of +3.9%. This estimate has changed +1% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $2.82 indicates a change of +32.5% from what Robinhood Markets is expected to report a year ago. Over the past month, the estimate has changed +0.8%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, Robinhood Markets is rated Zacks Rank #1 (Strong Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Robinhood Markets, the consensus sales estimate for the current quarter of $1.38 billion indicates a year-over-year change of +8.2%. For the current and next fiscal years, $5.23 billion and $6.63 billion estimates indicate +17% and +26.7% changes, respectively.
Last Reported Results and Surprise HistoryRobinhood Markets reported revenues of $1.31 billion in the last reported quarter, representing a year-over-year change of +32.3%. EPS of $0.62 for the same period compares with $0.42 a year ago.
Compared to the Zacks Consensus Estimate of $1.26 billion, the reported revenues represent a surprise of +3.49%. The EPS surprise was +40.91%.
Over the last four quarters, Robinhood Markets surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Robinhood Markets is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Robinhood Markets. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
Key Takeaways Robinhood is rolling out U.S. crypto perpetual futures using Bitstamp infrastructure with leverage up to 10x.Bitstamp generated 55% of Robinhood's $40 billion in total crypto notional volume in Q2 2026.Low fees, crypto volatility and regulatory uncertainty could make revenue growth from perpetuals gradual. Robinhood Markets’ (HOOD - Free Report) U.S. crypto perpetual futures rollout is putting greater focus on Bitstamp’s role within the company’s expanding digital asset ecosystem. While it initially said at its Sept. 29 HOOD Summit that eligible U.S. customers would gain access to perpetuals “in the coming months,” its latest product status page says the offering is beginning to roll out, signaling faster progress toward commercialization.
Bitstamp is central to that strategy because Robinhood’s perpetual futures are offered through Robinhood Derivatives using Bitstamp infrastructure. The contracts offer leverage of up to 10x on Bitcoin and Ethereum and up to 3x on other supported cryptocurrencies. Through Dec. 31, 2026, Robinhood charges a 0.005% commission, and the venue fee is another 0.005%, bringing total trading costs to 1 basis point.
Bitstamp already brings meaningful scale to Robinhood’s crypto platform. In the second quarter of 2026, it accounted for 55% of Robinhood’s $40 billion in total crypto notional volume. However, Bitstamp’s high volume does not necessarily translate into proportionately high revenues because its institutional-oriented business generally carries lower transaction economics than Robinhood’s retail crypto activity. Robinhood has said its crypto revenues benefited from the Bitstamp acquisition but does not separately report Bitstamp’s complete standalone revenue contribution.
The perpetual futures rollout is expected to enhance Robinhood’s monetization of Bitstamp’s established trading infrastructure and support another leg of growth in its crypto franchise. If adoption gains traction, higher-frequency derivatives trading could boost customer engagement and expand transaction-based revenues.
However, the magnitude of the benefit will depend on trading volumes, customer uptake and Robinhood’s ability to improve pricing economics over time. Low introductory fees, volatile crypto activity and regulatory uncertainty remain key near-term headwinds, suggesting that the revenue contribution may build gradually rather than emerge as an immediate earnings driver.
How are HOOD’s Peers Faring in Terms of Product DiversificationTwo close peers of HOOD are Charles Schwab (SCHW - Free Report) and Interactive Brokers Group (IBKR - Free Report) .
Schwab is broadening its offerings across ETFs, direct indexing, thematic investing, alternative assets, managed portfolios, banking and digital assets. Expanded crypto access in 2026, alongside personalized investing and advisor solutions, is expected to attract younger and wealthier clients, deepen engagement and help Schwab capture a larger share of client assets.
Interactive Brokers is expanding beyond traditional stocks and options into crypto, perpetual-style futures, prediction markets, AI-enabled trading and broader global-market access. Interactive Brokers’ unified platform now spans more than 170 markets, helping attract active traders, international investors and digital-asset clients while deepening engagement and supporting market share gains.
Robinhood’s Price Performance, Valuation & Estimate AnalysisOver the past six months, Robinhood’s shares have jumped 61.6%, outperforming the industry’s 9.9% growth.
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HOOD’s shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.71X compared with the industry average of 3.04X.
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The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 3.9%. The trend is likely to continue next year, with earnings expected to jump 32.5%. In the past 30 days, earnings estimates for 2026 and 2027 have been revised higher to $2.13 and $2.82 per share, respectively.
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HOOD currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Robinhood plánuje od příštího roku umožnit obchodování akcií a ETF i o víkendech, čeká však na regulatorní schválení. Firma ale uvádí, že to pravděpodobně přidá jen malý příspěvek k výnosům.
Customers at Robinhood Markets (HOOD +1.43%) can buy and sell many of the most popular stocks and exchange-traded funds (ETFs) from Sunday at 8 p.m. ET until Friday at 8 p.m. ET on the broker's 24 Hour Market. That adds up to 120 hours a week, and it leaves the weekend as the only time when stocks are off-limits.
At its HOOD Summit in Houston on Sept. 29, the firm said it plans to fill the gap by letting customers trade a curated list of U.S. stocks and ETFs around the clock, weekends included. Robinhood expects to launch it early next year, pending regulatory review.
Adding weekends would bring the 24 Hour Market to all 168 hours in a week, or about 40% more time to trade. But I don't think 40% more hours means anywhere near 40% more revenue.
Image source: The Motley Fool.
Stock trading is a smaller business than it looksRobinhood's equities revenue comes mainly from payment for order flow (fees that trading firms pay the broker to handle its customers' stock orders).
Showing how fast this line is rising, equities revenue almost doubled year over year to $129 million in the second quarter, according to Robinhood's quarterly filing. That was up from $82 million in the first quarter, too. So equities made up around 17% of transaction-based revenue, compared with about 13% three months earlier and 12% a year before. Average stock-trading volume per trader grew 56%, and the number of customers making stock trades climbed 13%.
But against total revenue of $1.31 billion (up 32% year over year), equities supplied just 10%.
And Robinhood's take is small. Customers traded a record $956 billion in stock in the quarter, up 85% from a year earlier, so the company earned around $1.35 of equities revenue per $10,000 traded.
This growth has slowed a little since then. In August, customers traded 68% more stock by dollar value than a year earlier, according to Robinhood's monthly operating data.
How much might weekends add?Robinhood doesn't say in its quarterly reports how much of its stock volume already trades in the 24 Hour Market, so any estimate here is rough.
At the second quarter's pace, equities revenue comes to around $516 million a year. If weekend hours boosted that by the full 40% the extra time represents, the rise would be about $206 million, or about 4% of Robinhood's yearly revenue pace of $5.2 billion.
I'd say the company probably won't get near that ceiling. Weekend trading will start with a limited list of stocks and ETFs. And some Saturday trades could just be trades a customer would've made on Monday morning anyway, which shifts revenue around instead of adding to it.
A 5% to 10% boost to equities revenue would add about $26 million to $52 million a year -- 1% of sales at most.
Sure, weekend hours could also keep active traders on the app on days when stocks have been off-limits, and so could the artificial intelligence (AI) agents Robinhood introduced at the summit to trade for customers. Any payoff there is tougher to measure.
Cheap to startThe summit's other launches tie into bigger revenue lines. But the tech company is pricing them to win customers first.
Perpetual futures, which are leveraged crypto contracts that never expire, are starting to roll out to eligible U.S. customers, with up to 10x leverage on Bitcoin and Ether and 3x on six other coins. Robinhood plans to charge just 0.01% a trade on them through the end of the year. Over time, they might help a shrinking crypto business, whose second-quarter revenue dropped 38% from a year earlier, to $100 million.
Earnings contracts, exchange-listed binary options linked to company-specific performance metrics, are expected to launch in October, pending regulatory approval. Robinhood won't charge contract fees for them through year-end, either.
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Also starting in October, Robinhood is adding 35% more options trading hours for its most popular symbols. The same caution about hours applies. But options are Robinhood's largest transaction line, at $342 million last quarter, so the move is arguably the bigger opportunity.
Ultimately, weekend trading looks more like a convenience for Robinhood's most active customers than a big new source of revenue.
At about $112 as of this writing, Robinhood's shares cost around 38 times earnings, using analysts' forecasts for 2027.
For a growth stock with revenue climbing so fast, some premium makes sense. But the price already assumes Robinhood keeps adding new ways to make money for years to come, and weekend trading is probably one of the smaller ones.
Robinhood ve 2. čtvrtletí získal z predikčních trhů 156 milionů USD, tedy meziročně více než desetinásobek. Vlad Tenev říká, že krypto kontrakty už tvoří neúměrně velkou část tohoto segmentu.
If Vlad Tenev, the chief executive officer of Robinhood Markets (HOOD +1.43%), is right that sports bets will become a minority of prediction market contracts within a few years, crypto investors might not see much upside directly. In the second quarter, the company brought in $156 million from its prediction market activities, up more than 10-fold year over year. In August 2026, per Robinhood's operating data, event contracts traded ran 15 times ahead of the levels of a year ago. And on Sept. 21, Tenev told CNBC that crypto-related contracts are already becoming a disproportionately large share of that segment, with sports-related contracts on track to become the minority within the next few years.
So what does this mean for crypto investors?
Image source: Getty Images.
Robinhood isn't the only platform seeing this trend Kalshi, a prediction market provider and one of the exchanges behind Robinhood's contracts, saw crypto prediction market volume increase from $337 million in January 2026 to about $7.5 billion by August. In the week ended Sept. 20, sports contracts still made up 21% of Kalshi's trading volume. And in that period, Bitcoin contracts were responsible for 13%, while bets bundling several different outcomes accounted for 62%.
Kalshi's crypto contracts, like Robinhood's, pose very short-term questions to traders, like whether Bitcoin will finish above a target price at the end of a 15-minute window.
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The idea is that traders can buy contracts for as little as a penny each, which pay $1 if right, and, given the quick turnover of new and timely contracts, potentially bet many times per day. Investors should note that it is generally a fool's errand to predict the short-term price movements of cryptocurrencies, just like it is with stocks. Of course, the prediction market operators make money from fees whether the underlying coin goes up or down, so it's in their interest to encourage as much trading as possible.
As for the prices of the cryptocurrencies that are the subject of the predictions, there isn't much reason to believe that they're directly affected by the odds implied by the contracts, nor by the outcomes of those contracts. The coins themselves don't change hands as a result of anything happening in the prediction markets.
Should you bet on crypto prices instead of investing? There is no compelling reason to transition your crypto investing activities into crypto prediction market trading activities. There are, however, many compelling reasons not to do that.
In a February 2026 Centre for Economic Policy Research (CEPR) column, a study of more than 300,000 Kalshi contracts found an average pre-fee loss of 20% per contract. The same investigation found that the probabilities implied by the contracts were too biased to be used as "true" probabilities. And if you're investing for the long term, as you should be, the resolution of any given 15-minute prediction about Bitcoin's price is not relevant to forming or adjusting an investment thesis for buying and holding it.
Nor does the Robinhood CEO's prediction about crypto outcome markets becoming bigger change any of that.
The crypto market itself is likely to grow considerably in coming years. That will doubtlessly create some of the anticipated growth in predictions about crypto prices. To get the most direct exposure to upside from the prediction component of that dynamic, specifically, buying Robinhood's stock is the most straightforward approach, as it earns revenue from every transaction. It's also a convenient play because of its brand-new Robinhood Chain blockchain, which will create even more fee revenue.
But for those who would prefer to only buy more crypto instead of stocks, there isn't necessarily much to do about or much to worry about regarding the expansion of crypto price prediction contracts. Own the coins that people are watching via prediction markets, and over the long run, their growth will continue to march onward regardless of what the bettors in the bleachers expect to occur in the next few minutes.
Robinhood Markets se po vstupu do indexu S&P 500 dostal na rekordních 152,46 USD, ale od té doby klesl zhruba na 112 USD. Analytický text tvrdí, že návrat nad toto maximum by mohl přijít do konce roku 2028 díky růstu zisku.
Robinhood Markets (HOOD -1.20%) closed at a record $152.46 on Oct. 9, 2025, under three weeks after the online broker entered the S&P 500 (^GSPC +0.19%). It hasn't closed as high since. At roughly $112 as I write, the stock would have to gain about 36% to get back there.
I think it gets there before the end of 2028.
That forecast doesn't depend on investors growing more excited about the growth stock. It depends on Robinhood's earnings, which would have to compound at around 18% a year -- lower than the 31% earnings-per-share growth the company posted in 2025.
Image source: Getty Images.
Shares now trade at around 38 times the earnings analysts expect Robinhood to report for 2027. Keep that price-to-earnings ratio flat (without any expansion), and the stock can climb no faster than the earnings investors are looking ahead to.
By late 2028, investors should be pricing the stock on what Robinhood can earn in 2029. A $152.46 stock price at that same 38 times earnings means about $4 in 2029 earnings per share.
Robinhood made $2.05 per share in 2025. So it has to almost double its earnings per share over four years, which is around 18% yearly growth.
The bar rises quickly if the price-to-earnings ratio falls, though. At 30 times earnings, the record would require about $5 in 2029 earnings per share, or growth closer to 25% a year.
Earnings growth looks fast enoughRobinhood's earnings per share grew from $1.56 in 2024 to $2.05 in 2025, a 31% gain. And the 2024 number included one-time benefits worth $0.47 per share, mainly from a tax benefit. Without those, earnings per share rose about 88% last year.
In the first half of 2026, earnings per share climbed another 27% year over year, to $1.00. Granted, that number includes $0.14 per share of gains, mainly from taking a Robinhood-run venture fund off the company's books in the second quarter. Without those gains, earnings per share rose around 9%.
But the second quarter showed how growth could speed back up. Transaction-based revenue climbed 44% year over year, as event contracts (Robinhood's prediction-market product) pulled in $156 million. This helped total revenue rise 32% to $1.31 billion, more than double the first quarter's growth rate of 15%.
Management also cut its 2026 outlook for non-GAAP (adjusted) operating expenses and stock-based compensation to a range of $2.675 billion to $2.775 billion. That works out to an increase of about 18% to 22% from 2025's $2.27 billion, even with two recently added businesses included. And first-half revenue rose 24%. If revenue keeps outpacing costs, earnings can grow faster than revenue.
And the third quarter seems to have started well. In August, stock trading volume jumped 68% year over year and options contracts traded climbed 50%, according to the company's monthly operating data.
What could break the forecast?The clearest risk is a slowdown in the money customers put in. Net deposits (the money customers move onto the platform, minus what they pull out) were at a 14% annualized rate in August, half the 28% pace of the second quarter. Second-quarter crypto revenue, meanwhile, dropped 38% year over year.
Also, second-quarter net interest revenue climbed just 9%, since lower short-term interest rates and softer securities lending revenue partly offset growth in margin loans and credit card balances. And prediction markets, Robinhood's fastest-growing revenue source, face lawsuits linked to state gambling laws.
The other risk is the valuation itself. Robinhood's valuation of around 38 times expected earnings is about three times what investors pay for Charles Schwab, priced at about 12 times what analysts think it'll earn in 2027.
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Investors usually pay a price-to-earnings ratio that high only when growth stays fast. If Robinhood's earnings growth fell into the single digits for a stretch, the stock could lose its premium even as earnings climb.
Will Robinhood stock close over $152.46 before 2029? I think so. Sure, the business needs several more years of strong earnings growth. But it's grown faster than that before, and the second quarter suggests it might be speeding up again.
Still, my prediction says more about the business than about the stock as an investment. Getting back to the record means the stock climbing around 14% a year from here, and that's if investors still pay about 38 times earnings when it gets there.
I think that asks too much of the stock at today's price.
Robinhood čelí obavám z vysokého ocenění, i když jeho tržby vzrostly o 32 % na 1,31 miliardy USD a čistý zisk o 48 % na 573 milionů USD. Analytici mají průměrnou cílovou cenu 131 USD.
Robinhood stock has wavered in recent days as investors remain concerned about its steep valuation and slowing growth. HOOD traded at $112.50 on Thursday, slightly below last month's high of $126.50. So, will the stock retreat or resume its uptrend in October?
HOOD stock has wavered amid concerns about its valuation, which remains at an elevated level. Seeking Alpha data shows that its forward price-to-earnings ratio remains at 44, much higher than the sector median of 10. This multiple is also higher than the five-year average of 37.
The company’s other multiples are also substantially higher than the technology and financial sector median. For example, its forward PEG ratio of 2.37 is higher than the sector median of 1.03.
On the positive side, the company has an encouraging rule-of-40 metric, which is calculated by adding its profit margin and its revenue growth. Its net income margin stands at 42%, while its forward revenue growth rate is 17%, giving it a multiple of 59%.
The most recent results showed that Robinhood’s business continued growing, even as its cryptocurrency business dragged. Its net revenue rose by 32% to $1.31 billion, with its transaction and net interest revenues rising to $776 million and $389 million. Robinhood’s net income rose by 48% to $573 million.
The challenge, however, is that its crypto business remained under pressure as the winter continued. Its cryptocurrency revenue dropped by 38% to $100 million as Bitcoin and most altcoins retreated. On the positive side, there are signs that the crypto business is improving.
Vlad Tenev and the team are working to stimulate growth. One of the new approaches is to launch AI agents that can trade on a customer’s behalf. The agents can also do in-depth research on companies and publish it to clients.
Additionally, some of its recently launched products are doing well. For example, data released this week showed that its event contracts traded in September stood at over 4.4 billion. Its Robinhood Chain product is also seeing strong growth.
More data showed that its equity notional trading volumes rose to $267 billion, while options contracts traded rose to 234 million. Its crypto volume rose to $17 billion during the month.
Analysts have a relatively bullish outlook on the company. Its average price target among analysts is $131, up modestly from the current $112.50. Some of the most bullish analysts are from companies like Bernstein, JMP Securities, Citizens, and Cantor Fitzgerald.
HOOD stock chart | Source: TradingView
The daily chart shows that HOOD has been in a steady upward trend in the past few months. It has remained above the 50-day Exponential Moving Average (EMA), a sign that bulls remain in control. The stock has also formed an ascending channel and the Supertrend indicator.
These technicals suggest that the stock may remain in this uptrend in the foreseeable future. A move above the key resistance level of $123 will point to more upside, potentially to the psychological level of $150.
Robinhood Markets plánuje 24/7 obchodování akcií, rozšířené hodiny opcí a spuštění perpetual futures pro zákazníky v USA. Zároveň představila AI agenty a další nové nástroje pro obchodování.
Up All Night: How Nasdaq’s 23-Hour Trading Could Wake Up Wall StreetRobinhood Markets NASDAQ: HOOD announced a broad slate of trading, artificial intelligence, social and platform features at its HOOD Summit, including plans for 24/7 equities trading, expanded options hours, perpetual futures and an AI-powered agent platform.
The company said its current 24/5 stock-trading offering, which operates from 8 p.m. ET Sunday through 8 p.m. ET Friday, will be upgraded to a 24/7 market. Eleanor Trinh, senior manager of design, said the change will bring weekend trading for native equities to Robinhood customers. The company did not provide a specific launch date.
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Expanded Trading Tools and Hours Apple, Meta, and SpaceX Are Driving a Device Boom—These 3 Stocks Could BenefitRobinhood also plans to extend options trading hours for its most actively traded symbols, including Nvidia, Tesla, SPY and QQQ. Beginning next month, options trading for those symbols will run from 7:30 a.m. to 4:15 p.m. ET, representing a 35% increase in available options-trading hours, according to Trinh.
Daniella Corricelli, senior manager of product management, announced the rollout of one-cancels-the-other, or OCO, orders for equities across Robinhood’s mobile app and Legend platform. The order type will allow users to pair profit-taking and stop-loss orders. Options OCO orders are expected early next year.
Not Just Banks: 3 Trading Stocks to Watch After the Fed Rate HikeCorricelli also said Robinhood will introduce intraday margin next month. Eligible customers will be able to access up to four times buying power during market hours, compared with the company’s current maximum of two times buying power with margin. Robinhood said the feature will include risk-management tools, including reminders ahead of market close and in-app controls for managing leverage.
Legend, Social and Device Updates For active traders using Robinhood Legend, Gina Pasqua-Abeles, senior director of product management, said the company is developing profit-and-loss layouts designed to help users evaluate past trading strategies. Legend users will also receive access to agentic accounts, which can be connected to a preferred AI model through Robinhood’s trading model context protocol, or MCP.
Robinhood said agents on Legend will be able to help users customize workspaces, conduct technical analysis, create stock screens and generate custom scripts and indicators. Pasqua-Abeles said agentic accounts on Legend were available starting immediately, while additional Legend-specific tools are planned in coming weeks.
The company also announced “Robinhood Dual Display,” a redesigned trading interface for foldable devices. Abhishek Fatehpuria, vice president of product management, said the feature will launch Oct. 23 for the iPhone Duo, the same day the device ships. On that date, Robinhood also plans to launch Dual Display for Android foldables including Galaxy Z and Pixel Fold devices, as well as native apps for Android tablets and iPads.
Robinhood Social is now out of beta, according to Anna Tork, senior manager of product management. The social platform enables users to share trade ideas and includes verified trade-related information, such as profit-and-loss posts and portfolio allocations. Robinhood said it is adding verified market commentators, company and political feeds, CEO feeds and news content.
Tommy Treadway, senior design manager, said a social widget will also be integrated into Legend. The widget will display verified social posts and allow users to view trade entries and exits associated with a post, with the ability to initiate a trade from the platform.
Prediction Markets and Earnings Tools Brad Nave, senior director of execution services, announced a new Predict tab and prediction-market hub. Robinhood plans to introduce binary contracts tied directly to corporate earnings metrics, including revenue, earnings per share and other key performance indicators. Nave said the company expects to offer contracts across more than 20 popular symbols and hundreds of events in the next few weeks, ahead of third-quarter earnings season.
Robinhood is also rolling out an earnings-call player within its app during the upcoming earnings season. Treadway said the tool will provide audio, transcripts with speaker attribution, playback controls, live comments and the ability to buy or sell shares without leaving the earnings-call player.
Perpetual Futures and AI Agents Steve Quirk, Robinhood’s chief brokerage officer, said the company will offer perpetual futures, or “perps,” to U.S. customers. The products do not expire, trade continuously and will offer leverage of up to 10-to-1, according to Quirk. Robinhood plans to begin with eight crypto perpetual futures products and charge one basis point per trade through the end of the year. The company said the products were available immediately for the live event audience and would be released more broadly in the coming months.
Robinhood also introduced Robinhood Agents, an in-app AI product designed to provide access to AI models, institutional-grade data and automated strategy execution. Fatehpuria said more than 150,000 customers had opened agentic accounts since the company’s initial agentic-trading launch in May, and agents are using Robinhood tools more than 30 million times daily.
The new Agents product will allow customers to create dedicated agentic accounts, select AI models, use third-party data applications and create “loops” that automate strategies on a recurring schedule. Robinhood said trade approvals will be enabled by default, and agents can trade only within dedicated agentic accounts. The company said it has zero-data-retention agreements with research labs and that customer agent conversations remain private.
Robinhood Agents and Agent Apps began rolling out to HOOD Summit attendees immediately, with automated loops expected “very soon.” The company said GPT-6 Luna will be free through year-end, while other models will be priced based on standard token rates.
Finally, Quirk announced several promotional offers for Robinhood Gold members: an entry for a chance to win a gold bar for every dollar deposited, a 2% match on IRA transfers and a match of up to 3% on eligible brokerage accounts. He said the offers will end within the next few weeks.
About Robinhood Markets (NASDAQ:HOOD)Robinhood Markets, Inc NASDAQ: HOOD operates a financial services platform designed to provide investing and trading products through mobile applications and a website. Its offerings include commission-free trading in stocks and exchange-traded funds, options trading, cryptocurrency services, margin investing, and retirement accounts. The company also provides cash management features and other tools intended to help customers manage and invest their money.
Founded in 2013 by Vlad Tenev and Baiju Bhatt, Robinhood gained prominence by expanding access to investing through a low-cost, easy-to-use digital platform.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Robinhood ve 2. čtvrtletí zvýšil tržby o 32 % na 1,31 miliardy USD a čistý zisk vzrostl na 573 milionů USD. Příjmy už nejsou založené hlavně na kryptu, ale i na úrocích, event contracts a předplatném Gold.
Robinhood Markets (HOOD -1.18%) went public on July 29, 2021, at $38 a share. Ten thousand dollars at that price bought around 263 shares. At about $119 as I write this, they're worth about $31,300.
That's a gain of more than 200%, far above what the S&P 500 (^GSPC +0.51%) returned during the same stretch.
But getting there took plenty of patience. The stock spent most of its first year as a public company dropping. And I'd say the business an IPO buyer owns now makes its money in very different ways from the one that went public.
Image source: The Motley Fool.
A round trip through $6.89Robinhood's shares ended their first trading day at $34.82, already under the IPO price. Then they soared, closing at around $70 on Aug. 4, 2021, less than a week into trading. Briefly, the $10,000 stake was worth over $18,000.
That didn't last. Shares finished 2021 under $18.
And on June 16, 2022, the stock closed at $6.89 -- 82% below the IPO price. By then, the original $10,000 was worth about $1,800.
The rebound took years. Shares finished 2024 near $37, and Robinhood joined the S&P 500 on Sept. 22, 2025. On Oct. 9, 2025, the stock reached a record close of $152.46, which would have made the IPO stake worth about $40,100. Shares have since fallen about 22% from that high.
The 2021 business relied on cryptoRobinhood's first earnings report as a public company showed how much it depended on a trading frenzy. Second-quarter 2021 revenue more than doubled, climbing 131% year over year to $565 million. Yet crypto trading made up 41% of the revenue, and 62% of the crypto revenue came from one coin, Dogecoin, according to the company's quarterly filing.
Revenue like that can vanish fast, and it did.
Robinhood's revenue slid 25% in 2022 to $1.36 billion, and monthly active users dropped from 21.3 million in June 2021 to 11.4 million at the end of 2022. The company cut around 23% of its full-time staff in August 2022, and it lost $1.03 billion that year.
Robinhood makes money in more ways nowSecond-quarter 2026 revenue rose 32% year over year to $1.31 billion, more than double the same quarter in 2021. Crypto supplied under 8% of it. Net interest revenue, earned mostly on margin loans and customers' cash, rose to $389 million from $68 million five years before. Event contracts, the company's prediction-market product, added $156 million.
What's more, Robinhood Gold, the company's paid subscription, hit a record 4.8 million subscribers, up 39% year over year. That sort of recurring revenue might make results less reliant on the next trading frenzy.
Showing how far the rebuild has come, annual revenue bottomed at $1.36 billion in 2022 and has risen every year since, reaching $4.5 billion in 2025. Growth hit 58% in 2024 and cooled just a bit last year, to 52%. And the bottom line followed. A $1.03 billion net loss in 2022 dropped to a $541 million loss in 2023, then turned to net income of $1.41 billion in 2024 (helped by a one-time tax benefit) and $1.9 billion in 2025.
The quarterly earnings comparison is even more lopsided. Robinhood's $502 million net loss in the second quarter of 2021 included $528 million in charges linked to the changing value of convertible notes and warrants, so the underlying business was near break-even. This year, Robinhood's second-quarter net income was $573 million, a 48% increase, but $129 million of that was from one-time gains.
Of course, growth hasn't been steady in 2026. First-quarter revenue rose just 15% year over year, so the second quarter's 32% was a sharp acceleration.
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Is it too late to buy?The market now values Robinhood at around $107 billion. At the IPO price, the company was worth about $32 billion. And using expected 2027 earnings, the stock's price-to-earnings ratio is around 41 -- a premium price even for a business growing this quickly.
Put simply, the IPO investor's gain came from owning a business that shrank in 2022 and then rebuilt itself into something broader and profitable. A buyer now gets that improved business at a much higher price.
For investors who bought at the IPO and held on, I think the case for keeping the shares is sound because the company is far stronger than the one they bought. But for new money, I think most of the improvement is already priced in.
Robinhood ve 2. čtvrtletí zvýšil platformová aktiva na 369 mld. USD, meziročně o 262 %, a tržby z transakcí vzrostly o 44 % na 776 mil. USD. Roste také Gold, bankovnictví a penzijní byznys.
Key Takeaways Robinhood's platform assets hit $369B in Q2 2026, up 262% y/y, as its asset mix broadened.HOOD still relies heavily on trading, with transaction-based revenues rising 44% to $776M in Q2 2026.Robinhood's Gold, banking and retirement businesses are expanding, supporting more recurring revenue streams. Five years after its IPO, Robinhood Markets (HOOD - Free Report) has evolved from a retail-trading disruptor into a broader financial services platform. The transformation has also been accompanied by substantial shareholder returns. The company priced its IPO at $38 per share in July 2021, while HOOD closed at $120.82 on Sept. 24, 2026, representing roughly 218% appreciation from its IPO price. Its market capitalization now stands at $108.6 billion.
Over the past five years, HOOD stock has soared 169.9%, outperforming the industry’s 77.5% rise. Among its close peers, Charles Schwab (SCHW - Free Report) has rallied 28.6% over the same period, while Interactive Brokers Group (IBKR - Free Report) has surged 446.9%.
5-Year Price Performance
Image Source: Zacks Investment Research
However, Robinhood’s substantial gains raise the execution bar. Its next phase depends less on proving that it can attract traders and more on demonstrating that its expanding product ecosystem can sustain growth, deepen customer relationships and make earnings less dependent on fluctuations in trading activity.
Robinhood Customers are Becoming More ValuableRobinhood’s customer base has expanded since its IPO, but the bigger change has been in customer economics. Funded Customers increased from 22.5 million in the second quarter of 2021 to 28.4 million in the second quarter of 2026.
At the same time, Average Total Platform Assets per Funded Customer roughly tripled from about $4,500 to $13,000. New customer cohorts are also arriving with roughly four times more net deposits than around the time of the IPO, while average incoming ACATS transfers have approximately doubled.
Customers Cohorts
Image Source: Robinhood Markets, Inc.
Retention trends have strengthened as well. Customer retention reached 93% compared with 77% five years earlier, while asset retention improved to 97% from 79%.
These trends matter because customers with larger balances who stay on the platform longer create more opportunities for Robinhood to monetize relationships beyond trading. Margin lending, cash products, retirement accounts, advisory offerings and Gold subscriptions can increasingly complement transaction-based revenues.
That improvement in customer economics provides the foundation for Robinhood’s broader diversification strategy.
Diversification is Becoming More Visible at RobinhoodRobinhood’s asset mix provides clear evidence of the transition. Five years ago, 86% of platform assets were held in single-name equities or crypto. By the second quarter of 2026, 46% of assets were in ETFs, advisory, retirement and cash products. Total Platform Assets reached $369 billion in the second quarter, up 262% from the second quarter of 2021.
Diversified Platform Asset Mix
Image Source: Robinhood Markets, Inc.
Revenue sources are widening alongside the asset base. The company now has 13 business lines generating more than $100 million in annualized revenues, spanning trading, margin interest, securities lending, Cash Sweep, Gold, Bitstamp, prediction markets, Robinhood Legend and credit cards.
Nevertheless, the diversification story remains incomplete.
Transaction-based revenues increased 44% year over year to $776 million in the second quarter of 2026 and remained the largest component of Robinhood’s $1.31 billion in total net revenues. Net interest revenues were $389 million, while other revenues totaled $143 million. Hence, transaction-based revenues remain a major earnings driver, leaving HOOD meaningfully exposed to changes in trading activity despite its broader revenue mix.
August operating data reinforces both sides of the diversification story. Total Platform Assets reached $384 billion, up 26% year over year, while equity trading volumes increased 68%, options volumes climbed 50% and event-contract volumes were roughly 15 times their year-ago level. Crypto trading volume, however, declined 38%.
The differing trends demonstrate an important benefit of HOOD’s expanding product mix: weakness in one category can increasingly be offset by strength elsewhere.
What Could Drive Robinhood’s Next Growth Phase?Active Trading: Robinhood continues to build products aimed at more sophisticated and active investors. In the second quarter of 2026, equity notional trading volume jumped 85% year over year to $956 billion, options contracts increased 50% to 774 million and event contracts climbed more than tenfold to 13.6 billion.
Robinhood Legend has surpassed $100 million in annualized revenue, while Agentic Trading attracted nearly 100,000 accounts with more than $100 million in assets under custody.
These offerings could help Robinhood capture more trading activity from existing customers while broadening its appeal beyond the retail investors who defined the platform around the time of its IPO.
Wallet-Share Expansion: Perhaps more important to Robinhood’s diversification thesis is its push to become a broader financial platform. Gold Subscribers reached 4.8 million in the second quarter, up 39% year over year. The Gold Card surpassed 1 million customers and more than $17 billion in annualized purchase volume.
Robinhood Banking, meanwhile, had more than $3 billion in deposits from over 240,000 Funded Customers, while Retirement assets under custody surged 82% to $34.5 billion.
These businesses can potentially generate more recurring and balance-driven revenues while increasing customer engagement and retention. Success here would also reduce Robinhood’s reliance on periods of elevated market activity to drive growth.
International Expansion and Crypto Infrastructure: Robinhood is also extending its reach beyond its traditional U.S. brokerage franchise. The acquisition of Bitstamp, the addition of WonderFi, European crypto offerings, Robinhood Chain and planned brokerage expansion into Singapore increase the company’s addressable market and broaden its crypto infrastructure.
International expansion is expected to open new avenues for customer and asset growth, but it also introduces additional regulatory, integration and execution complexity. The pace at which these investments translate into meaningful revenues will therefore be an important area to watch.
Growth Expectations Raise the Bar for HOODRobinhood’s expanding businesses are reflected in analysts’ growth expectations. The Zacks Consensus Estimate for HOOD’s 2026 sales and earnings implies a year-over-year increase of 17% and 4.9%, respectively.
For 2027, revenues are projected at about $6.62 billion, while earnings are expected to be $2.86 per share, indicating growth of 26.6% and 32.8%, respectively.
Sales Estimates
Image Source: Zacks Investment Research
Earnings Estimates
Image Source: Zacks Investment Research
This reinforces the case for Robinhood’s long-term growth potential, but they also mean investors are already anticipating meaningful contributions from the company’s newer products and revenue streams.
HOOD’s Premium Valuation: Less Room for Execution MisstepsRobinhood’s valuation reflects the heightened expectations.
HOOD trades at 12.55X trailing 12-month tangible book, substantially above the industry average of 3.13X.
Robinhood’s P/TB TTM
Image Source: Zacks Investment Research
HOOD stock is also expensive compared with Schwab and Interactive Brokers. Schwab and Interactive Brokers have a trailing 12-month P/TB of 7.1X and 1.82X, respectively.
Robinhood’s premium multiple implies substantial expectations for continued asset gathering, stronger product adoption and sustained earnings expansion.
That valuation also raises the consequences of an execution setback. A moderation in trading activity, slower-than-expected adoption of newer businesses, or regulatory challenges surrounding areas such as crypto and prediction markets could make it harder for HOOD to meet the growth expectations embedded in its stock price.
Diversification is Central to HOOD’s Long-Term Growth StoryRobinhood enters its sixth year as a public company with a significantly broader business than investors saw at the IPO. Higher customer assets, stronger retention, expanding retirement and banking balances, and multiple scaled revenue streams indicate that the company is becoming less dependent on its original retail-trading franchise.
Yet transaction-based revenues remain a significant earnings driver, while newer businesses bring execution, integration and regulatory risks. At the same time, HOOD’s premium valuation already reflects substantial expectations for continued asset growth, product adoption and earnings expansion.
The key question for investors is whether Robinhood’s newer businesses can scale fast enough to make revenues more recurring and earnings less sensitive to trading activity while supporting the premium currently embedded in its shares.
At present, Robinhood carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Robinhood ve 2. čtvrtletí vygeneroval z predikčních trhů tržby ve výši 156 milionů USD, tedy více než desetinásobek oproti loňsku. Tento segment už je druhým největším obchodním segmentem firmy.
Robinhood Markets (HOOD -0.30%) built its brand on free stock trades. But the fastest-growing business it runs today isn't stock trading -- or options or crypto, either. It's prediction markets, where customers buy contracts that pay $1 if they call an outcome right (an election, say, or a football game) and nothing if they don't.
In the second quarter, these event contracts, as Robinhood calls them, produced $156 million of revenue, more than 10 times the year-ago figure.
Nothing else the company sells comes close to that growth rate. Options revenue rose 29% year over year. Equities revenue jumped 95%. Crypto revenue fell 38%.
The growth stock, at about $121 as of this writing, has climbed about 11% in a week. And a big part of that price, I think, now rests on prediction markets continuing to scale.
Image source: Getty Images.
Prediction markets are now the No. 2 trading businessA year ago, event contracts were Robinhood's smallest transaction-revenue line. Today, only the options business brings in more.
Showing how quickly the business has scaled, event contracts generated $104 million of revenue in this year's first quarter and $156 million in the second, according to the company's quarterly filings. That is an impressive climb for a line that produced $13 million in the entire first half of 2025. Robinhood's transaction-based revenues climbed 44% in the second quarter from a year earlier, reaching $776 million, and event contracts supplied more of that increase than options and equities combined. The line brought in more than both equities ($129 million) and crypto ($100 million) in the quarter, trailing only options at $342 million.
In other words, event contracts now supply about 20 cents of every transaction-revenue dollar Robinhood collects. A year ago, their share was about 2 cents.
A penny per contractEach contract trades in penny increments up to $1 and pays out $1 if the buyer is right. Robinhood's cut worked out to about a penny per contract in the second quarter: $156 million of revenue on a record 13.6 billion contracts traded, more than 10 times the year-ago volume.
Robinhood's customers traded about 152 million event contracts a day in August (4.7 billion over the month), about 14 times the year-ago pace.
Of course, demand like this can swing with the calendar of elections, economic events, and sports seasons. August's volume fell 23% from July, and month-to-month totals may stay uneven.
Even at August's slower pace, though, the line would produce roughly $650 million of revenue a year at the second quarter's per-contract rate. For comparison, options, Robinhood's biggest transaction line, brought in $342 million in the second quarter alone, a pace of about $1.4 billion a year.
The tech company is investing like it expects the business to stay. In January, a joint venture Robinhood formed with trading firm Susquehanna International Group bought 90% of MIAX Derivatives Exchange, a federally regulated derivatives exchange and clearinghouse -- a purchase Robinhood called an acceleration of its investment in prediction markets.
Can the growth last?The law around this business isn't settled. Plaintiffs in six states sued to recover money lost trading the contracts, under state gambling-loss statutes.
Native American tribes have sued over the sports contracts. And Massachusetts securities regulators are examining the offerings, according to Robinhood's latest quarterly filing. And on Sept. 16, Missouri's attorney general ordered Robinhood and five other operators to stop offering sports event contracts in the state unless they get a state gaming license.
The courts have started weighing in, too. In late August, a federal appeals court cleared Nevada to apply its gambling laws to sports-event contracts offered by Robinhood and others. And on Sept. 16, the same court found two tribes likely to win their claim that contracts on their lands violate federal Indian gaming law.
The company's own disclosures warn that changes in federal or state law "could immediately or subsequently prevent" it from offering event contracts at all.
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However, none of that has shown up in the results yet. Companywide revenue hit a record $1.31 billion in the second quarter, up 32% year over year, and net income climbed 48% year over year to $573 million (helped by $129 million of one-time gains).
The business case looks solid to me. Event contracts produced about 50% more second-quarter revenue than crypto trading did, and they grew while that business shrank.
But the stock is another matter. At about 42 times expected 2027 earnings, the price arguably already assumes Robinhood keeps finding growth like this for years to come.
Ultimately, prediction markets have earned a spot at the center of Robinhood's growth story. What they haven't proven is staying power -- August's volumes cooled, and the lawsuits are unresolved. I'd rather watch a few more months of data before paying today's price for the stock.
DraftKings klesá o 2 % na 20,77 USD, protože Needham uvedl, že Kalshi v úvodním týdnu NFL získal 76 % objemu na sportovních prediction markets a DKeX jen 3 %.
Kalshi's grip on NFL prediction-market volume looks overwhelming until Needham adjusts for how professional traders inflate exchange counts, and that one tweak changes the stakes for DraftKings stock in ways the headline number hides.
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DraftKings (NASDAQ:DKNG | DKNG Price Prediction) stock is falling 2% to $20.77 as fresh sports volume figures from investment bank Needham focus the debate over who is winning prediction markets. Needham’s data showed Kalshi captured 76% of sports prediction-market volume in the opening week of the National Football League (NFL) season, while DraftKings’ own exchange, DKeX, took 3%. That gap is the heart of the argument against DraftKings’ push into the category.
For comparison, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.29%, which leaves the broad market a poor explanation for the selling. Sportsbook operators and the prediction-market platforms competing with them are trading on this share debate, with DraftKings at its center. With DraftKings stock down 38% year to date through the last settled close, the latest pressure extends a decline already underway.
A crowded field of rivals surrounds DraftKings in the race for sports prediction volume. Flutter Entertainment (NYSE:FLUT) owns FanDuel, Robinhood Markets (NASDAQ:HOOD) also offers prediction-market contracts, and privately held Polymarket competes with Kalshi for the same volume. HOOD stock is down 1% to $119.80 while FLUT stock is down 2% to $80.56. Fund holders feel the rivalry as well, since the Roundhill Sports Betting & iGaming ETF (NYSEARCA:BETZ) holds both DraftKings and Flutter Entertainment.
Adjusted Figures Trim Kalshi’s Lead Needham’s headline number reflects exchange volume, which totals every transaction, including repeated trades in the same contract by professional participants, while a sportsbook order at DraftKings counts once when the customer places it, so the two measures aren’t comparable dollar for dollar. Professional desks that cycle in and out of a contract add to Kalshi’s exchange total every time.
On a consumer-equivalent basis, Needham’s figures put Kalshi’s share at 67%, while DKeX holds essentially steady. That adjustment reduces Kalshi’s lead, yet DraftKings’ exchange still claims only a fraction of volume from the busiest week on the sports calendar, and with DKeX in its first football season, DraftKings has little history to show how quickly that share can grow.
Licensing Could Reshape the Fight DraftKings holds sportsbook licenses across dozens of states, and that footprint carries new weight after a legal development this month. A federal appeals court held that two California tribes are likely to succeed in arguing that Kalshi’s sports contracts violate federal Indian gaming law. If courts push prediction markets under gaming law, DraftKings’ licensing position could turn into an advantage.
Needham’s volume figures leave that question unanswered, and the court’s finding addresses only the likelihood of success. For now, DraftKings’ regulatory footprint is a potential edge that has yet to show up in its exchange share. Such an outcome could favor companies like DraftKings that already operate under state gaming regulators.
Management at DraftKings sounded far more upbeat on its Q2 2026 earnings call in August, describing the predictions offering as growing faster than expected. CEO Jason Robins stated, “While still early, we are seeing double-digit share in the markets where we participate.” That claim covers only markets where DraftKings is active, a narrower lens than Needham’s category-wide count.
Weighing DraftKings’ Upside and Risk DraftKings’ bull case rests on a young exchange, a licensed state footprint and a legal background that may favor regulated operators. Supporters can also point to the adjusted Needham measure, which shows Kalshi’s lead narrowing once repeated professional trading is converted to a consumer basis. Its exchange is also new enough that share could build as the football schedule continues.
Skeptics see a simpler story for DraftKings. Kalshi took the large majority of sports volume in the NFL’s opening week, and DKeX won almost none of it under either measure. The market wants proof. A steep slide this year suggests that hesitation before it credits the predictions push with much value, and a single adjusted data point offers limited evidence.
What to Watch Next Traders should keep an eye on share figures from later NFL weeks, since a single early look of DKeX can shift quickly as DraftKings moves more volume onto its exchange. Further rulings in the California tribal case could change how the market values DraftKings’ sportsbook licenses. Any fresh commentary from DraftKings management on how much volume has moved to DKeX could also focus the picture.
Given how far DraftKings stock has already fallen, investors should keep their positions moderate and size their exposure so another leg lower stays manageable. Anyone building a larger position could scale in gradually, letting the next rounds of volume data test the adjusted-share argument. A bigger DKeX slice of the category would give DraftKings the proof point that its current figures lack.
Contact [email protected] for any questions or corrections.
QRG Capital Management ve 2. čtvrtletí zvýšila podíl v Robinhood Markets o 14,8 % na 180 595 akcií v hodnotě 18 110 000 USD. Institucionální investoři drží 93,27 % akcií.
QRG Capital Management Inc. lifted its stake in Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,595 shares of the company’s stock after purchasing an additional 23,253 shares during the period. QRG Capital Management Inc.’s holdings in Robinhood Markets were worth $18,110,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MV Capital Management Inc. bought a new position in Robinhood Markets in the fourth quarter worth approximately $27,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Robinhood Markets in the 2nd quarter worth $27,000. Glen Eagle Advisors LLC grew its position in shares of Robinhood Markets by 812.9% during the 4th quarter. Glen Eagle Advisors LLC now owns 283 shares of the company’s stock worth $32,000 after buying an additional 252 shares in the last quarter. SHP Wealth Management purchased a new position in shares of Robinhood Markets during the fourth quarter valued at $32,000. Finally, Copos Capital S.a r.l. purchased a new stake in Robinhood Markets in the fourth quarter worth about $33,000. Institutional investors own 93.27% of the company’s stock.
Analysts Set New Price Targets HOOD has been the topic of a number of research reports. Argus raised their target price on shares of Robinhood Markets from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Benchmark raised shares of Robinhood Markets to a “strong-buy” rating in a report on Wednesday, September 9th. The Goldman Sachs Group upped their target price on Robinhood Markets from $124.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Scotiabank began coverage on Robinhood Markets in a report on Wednesday, September 2nd. They issued a “sector outperform” rating and a $136.00 price target on the stock. Finally, Wall Street Zen raised Robinhood Markets from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.70.
Check Out Our Latest Report on Robinhood Markets Robinhood Markets Price Performance NASDAQ HOOD opened at $122.70 on Thursday. The firm’s fifty day simple moving average is $104.01 and its two-hundred day simple moving average is $91.95. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.23. Robinhood Markets, Inc. has a 12-month low of $63.51 and a 12-month high of $153.86. The firm has a market capitalization of $110.32 billion, a P/E ratio of 54.05, a P/E/G ratio of 2.48 and a beta of 2.34.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.18. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 32.5% on a year-over-year basis. Analysts forecast that Robinhood Markets, Inc. will post 2.15 EPS for the current fiscal year.
Insiders Place Their Bets In related news, insider Daniel Martin Gallagher, Jr. sold 10,000 shares of Robinhood Markets stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $122.43, for a total value of $1,224,300.00. Following the completion of the sale, the insider directly owned 509,943 shares in the company, valued at $62,432,321.49. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the sale, the chief financial officer directly owned 56,858 shares in the company, valued at approximately $6,278,260.36. This represents a 16.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 880,287 shares of company stock valued at $102,490,753. 13.48% of the stock is currently owned by corporate insiders.
Key Robinhood Markets News Here are the key news stories impacting Robinhood Markets this week:
Positive Sentiment: Crypto and prediction-market expansion: Robinhood is broadening its prediction-markets offering beyond sports, with crypto-linked contracts gaining share. CEO Vlad Tenev has said crypto could eventually dominate prediction markets, potentially expanding trading activity and revenue. Robinhood’s Prediction Markets Move Beyond Sports Positive Sentiment: Robinhood Chain development: Robinhood Chain integrated with Zerion, while decentralized-exchange volume reportedly reached $1.88 billion. The integration could improve access to decentralized finance and support adoption of Robinhood’s blockchain ecosystem. Robinhood Chain integrates with Zerion Positive Sentiment: Bullish long-term outlook: Recent commentary highlights Robinhood’s improving profitability, potential leadership in tokenized stocks, and the possibility of 20%-plus revenue growth in 2027 as crypto activity recovers. Analysts also maintain a consensus “Moderate Buy” recommendation. Robinhood bullish investment thesis Neutral Sentiment: High investor attention: HOOD remains a heavily watched and trending stock, which can increase trading interest but may also contribute to heightened volatility. Robinhood trending-stock analysis Negative Sentiment: CEO share sale: CEO Vladimir Tenev sold approximately $32.5 million of HOOD shares, reducing his direct position by half. The transaction occurred under a pre-arranged Rule 10b5-1 plan, which lessens its signaling value but can still weigh on sentiment. SEC insider transaction filing Negative Sentiment: Valuation and regulatory risk: With shares trading well above their longer-term moving averages and at a relatively high earnings multiple, investors may be taking profits. Expansion into prediction markets also brings increased regulatory scrutiny. (Free Report)
Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.
The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.
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Robinhood uvádí, že kryptoměnové kontrakty už tvoří neúměrně velkou část aktivit na prediction markets, zatímco sport by měl časem tvořit menšinový podíl. Ve 2. čtvrtletí 2026 výnosy z eventových kontraktů vzrostly více než desetinásobně na 156 milionů USD.
Key Takeaways Robinhood's crypto-linked contracts are taking a disproportionate share of prediction-market activity.Event-contract revenue jumped more than tenfold to $156 million in Q2 as trading hit 13.6 billion contracts.Rothera generated $17 million of Q2 event-contract revenue as Robinhood broadened its routing ecosystem. Robinhood Markets’ (HOOD - Free Report) prediction market business has emerged as one of its most important growth engines. But its rapid expansion has also brought increasing regulatory attention, particularly around sports-related contracts.
Recent comments from CEO Vlad Tenev suggest the next phase of growth could look different. Crypto-linked event contracts are already taking a “disproportionate share” of activity, according to Tenev, who expects sports to eventually represent a minority of prediction-market activity.
For investors, that mix shift matters. If crypto and other non-sports contracts gain traction without slowing overall growth, Robinhood could broaden the opportunity while reducing its dependence on the segment facing the most state-level scrutiny.
Why the Shift Beyond Sports Matters for RobinhoodSports contracts remain at the center of Robinhood’s regulatory challenges. Missouri recently ordered Robinhood and other operators to stop offering sports event contracts without a state sports-wagering license. Meanwhile, HOOD is appealing litigation in Michigan, while the Ninth Circuit in August affirmed the denial of preliminary relief in its Nevada case. The company has since petitioned the U.S. Supreme Court.
Against this backdrop, a shift toward crypto, economic and other non-sports event contracts could become strategically important. Diversification would not eliminate regulatory risk, but it could reduce Robinhood’s dependence on sports – the category currently attracting the greatest state-level scrutiny – and make prediction market growth more resilient if restrictions on sports contracts broaden.
Prediction Markets are Becoming Financially Material at HOODThe issue is increasingly important because prediction markets are no longer a peripheral experiment for Robinhood. Management previously described prediction markets as the company’s fastest-growing product line by revenue.
Event-contract revenues surged more than tenfold year over year to $156 million in the second quarter of 2026, while contracts traded jumped more than tenfold to a record 13.6 billion.
Prediction markets also fit Robinhood’s broader strategy of increasing customer engagement beyond traditional stock and options trading. Event contracts tied to crypto prices, economic indicators, or other outcomes can give customers more reasons to return to the platform and deepen engagement across Robinhood’s ecosystem.
That matters for a business increasingly focused on expanding revenue per customer and reducing reliance on any single trading category.
Competition is Building for HOOD as IBKR & Coinbase ExpandRobinhood is not pursuing this opportunity alone. Interactive Brokers (IBKR - Free Report) has expanded its prediction market offering by creating a unified interface spanning Kalshi, CME Group and its ForecastEx platform, allowing customers to compare liquidity and trade contracts alongside stocks, options, futures, crypto and other assets.
Coinbase Global (COIN - Free Report) is also building prediction markets into its broader “Everything Exchange” strategy. Its offering launched with Kalshi-sourced contracts and now spans categories, including crypto, economics, sports and companies. Coinbase’s prediction market contracts and revenues increased 106% sequentially in the second quarter.
The expansion by Interactive Brokers and Coinbase validates growing broker interest in event contracts, but it also raises the competitive stakes for Robinhood. Product breadth, liquidity, pricing and user experience could increasingly determine which platforms capture engagement.
Rothera Gives HOOD More Infrastructure FlexibilityRobinhood is simultaneously strengthening its infrastructure. In June, it began routing event contracts to Rothera, a CFTC-licensed exchange and clearinghouse independently managed through Robinhood’s joint venture with Susquehanna International Group. Rothera accounted for $17 million of Robinhood’s second-quarter event-contract revenues.
The infrastructure investment could provide greater flexibility to expand contract availability and respond to evolving customer demand. Robinhood has also added other routing relationships, including Crypto.com’s prediction-market infrastructure, suggesting it is building a broader ecosystem rather than depending on a single venue.
What Should HOOD Investors Watch?The key investor trigger is whether non-sports contracts can gain share while overall prediction market revenues and engagement remain strong. That combination would indicate Robinhood can diversify one of its fastest-growing businesses without sacrificing momentum, while potentially lowering its dependence on the category attracting the greatest regulatory pressure.
Sustained growth in prediction market revenues could make the business an increasingly meaningful contributor to Robinhood’s overall earnings, adding another revenue stream alongside equities, options and crypto trading. Competition from Interactive Brokers and Coinbase, regulatory uncertainty and the risk of moderating growth remain key concerns.
Still, continued volume growth, broader contract diversification and rising revenue contribution will likely strengthen the case for prediction markets becoming a durable driver of Robinhood’s earnings growth.
Over the past six months, Robinhood’s shares have soared 79.8%, substantially outperforming the industry’s rally of 19.3%.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Vlad Tenev z Robinhoodu tvrdí, že Trump Accounts se mohou do deseti let stát největším nástrojem dlouhodobého spoření a investování v USA. Program pro děti narozené od 1. ledna 2025 začíná vkladem 1 000 USD od ministerstva financí.
Robinhood's CEO believes a federal program that barely exists yet could reshape how Americans build wealth for generations, but independent economists see a very different outcome unfolding.
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Speaking on the Moonshots with Peter Diamandis podcast, Robinhood chief executive Vlad Tenev made a striking forecast about the federal child-savings program his firm helps administer. Robinhood (NASDAQ:HOOD | HOOD Price Prediction) is serving as the initial brokerage and trustee for Trump Accounts, and Tenev told the show that “You don’t have to squint too hard to see it being the biggest element of long-term saving and investing in this country within possibly even a decade.”
What Tenev Described Tenev framed Trump Accounts as an ownership vehicle that begins at age zero. The program creates individual brokerage accounts for children born in the United States starting January 1, 2025, seeded with $1,000 from the U.S. Treasury. On the podcast, Tenev compared the program’s potential scale to 401(k) plans and projected that with $50 a month in additional contributions, a child could have hundreds of thousands of dollars by age 28 and potentially millions by retirement.
Those numbers are Tenev’s forecast, offered on a podcast. They are not a calculation this publication endorses, and they say nothing about what any actual account will hold.
How the Program Is Structured Tenev also clarified the plumbing, which has been described loosely elsewhere. State Street provides the index funds. BNY serves as financial agent. Robinhood is the brokerage and trustee that owns the client-side experience. Robinhood is one of multiple parties selected for the program.
Investors following the company can review its own account of that role in Robinhood’s Q2 2026 shareholder letter and 8-K, filed with the SEC on July 29, 2026.
Nixon Goes to China The sharpest exchange in the segment came when a co-host pressed Tenev on the irony of it all. Robinhood is publicly associated with frictionless, gamified trading. Now it is the client-side front end introducing low-cost index investing to an entire generation of new Americans at birth. The framing on the show was that only Robinhood could pull this off.
Tenev’s response was that Robinhood’s position was earned. If you look at what features become standard across the brokerage industry, he argued, they are Robinhood features. It is a genuinely interesting turn: the app most identified with active trading becoming the default onboarding tool for buy-and-hold index ownership from day one.
Efficiency and Its Critics A co-host on the podcast argued that, compared with traditional registered charities carrying high operational overhead, Trump Accounts offer incredibly efficient direct giving. That view is contested.
The Urban Institute published an analysis on January 15, 2026 titled “Don’t Cut Out the Middleman: The Dells’ Pledge to Support Trump Accounts and the Importance of Nonprofit Infrastructure,” arguing for the value of nonprofit infrastructure rather than bypassing it. The Economic Policy Institute argued on January 6, 2026 that billionaire-funded Trump Accounts will not end child poverty and will widen structural inequities in the U.S. economy.
Dell Money, Now Flowing The largest philanthropic backer to date is the Dell family. NPR reported a $6.25 billion commitment from Michael and Susan Dell, with the Associated Press dating the announcement to December 2, 2025. Fortune reported the Dells believe it is the largest single private commitment to U.S. kids. CNBC reported on August 31, 2026 that the Dell Foundation said Trump Account holders may begin receiving a $250 grant, moving the effort from pledge to distribution. Newsweek reported on January 30, 2026 that the White House and the Dells were at odds over the donation.
Tension Investors Are Left With Tenev is forecasting that a program barely underway becomes the dominant long-term savings vehicle in the country. Independent analysts at the Urban Institute and the Economic Policy Institute question whether the model does what its backers claim. Both positions are on the record, and HOOD shareholders watching the company’s role in Trump Accounts will be sizing up the same gap.
Contact [email protected] for any questions or corrections.
SEC udělila Robinhood výjimku, která umožní obchodování s tokenizovanými americkými akciemi bez registrace burzy po dobu pěti let. Současné evropské tokeny ale nevyhovují, protože nedávají hlasovací práva ani vlastnictví akcií.
The Securities and Exchange Commission just handed Robinhood Markets (HOOD +2.31%) something its CEO has campaigned for since the start of 2025. On Sept. 17, the agency issued what it calls an "Innovation Exemption," an order that lets qualifying venues trade tokenized versions of U.S. stocks for five years without registering as stock exchanges. Robinhood shares climbed 5% that day, and, as of this writing, the growth stock trades at about $120.
However, the order only covers tokens that give holders the same rights as the real shares. The stock tokens Robinhood sells overseas today don't -- the company's own product disclosures refer to its European tokens as "derivative contracts" that track stock prices "without granting rights to them."
Can Robinhood build a version that qualifies, and have it trading in the U.S. before the end of 2027? I think it can.
Image source: The Motley Fool.
Five years, with conditionsThe order lets what the SEC calls tokenized securities venues match buyers and sellers of tokenized U.S. stocks with the automated liquidity pools widely used in crypto markets. The relief is temporary, and the SEC says it will consider additional changes in the meantime.
The conditions are the interesting part. A venue has to verify every token it lists carries the same rights and privileges as the conventional shares -- dividends and votes included. A company also gets written notice and a chance to object before a venue starts trading a version of its stock tokenized by a third party.
And trading starts small by design: the order caps symbols and volume, and a venue must publish its plans publicly at least 30 days before launching.
Robinhood's existing tokens wouldn't qualifyRobinhood launched its stock tokens in Europe in mid-2025 and has since expanded them to more than 120 countries. The more recent versions, structured as debt securities, trade around the clock on the tech company's own blockchain network. And they are not available to U.S. customers.
But they're not stock. Holders can earn the equivalent of dividends when eligible, but they do not own the underlying shares and cannot vote them. The SEC's definition of tokenized stock excludes exactly that structure -- tokens that offer only "synthetic exposure" to a security.
The company saw this coming. On Sept. 14, three days before the order, CEO Vlad Tenev replied to criticism that token holders lack shareholder rights.
"In-kind redemption and voting are coming for Robinhood Stock Tokens," Tenev said in a post on X.
Redemption for actual shares and voting rights would likely close most of the gap between what Robinhood sells overseas and what a U.S. venue could list. I doubt the timing is coincidental.
Can it get there by the end of 2027?The pieces are mostly in place. Robinhood Chain, the blockchain network the tokens trade on, launched its public mainnet in July. What was lacking was permission in the U.S., and the SEC just supplied it.
Johann Kerbrat, who runs Robinhood's crypto business, called the exemption "a signal that tokenization is ready to come to the United States."
He did not offer a date. But Robinhood has scaled a new product rapidly before. Event contracts, a business that barely existed for the company two years ago, produced $156 million of second-quarter revenue, up more than tenfold year over year.
The prize is the stock-trading business itself. Equities transaction revenue jumped 95% year over year in the second quarter, to $129 million, accelerating from 46% growth in Q1. Robinhood's total revenue, for comparison, increased 32% year over year in the quarter, to $1.31 billion, and net income grew even faster, up 48%. Tokenized trading could extend exactly that line to weekends and, if the overseas product is a guide, new uses like collateral. Robinhood wouldn't need new customers, just more hours and more ways for the ones it already has to trade.
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Of course, the rebuild is a big task. A token that carries full shareholder rights is a different instrument from a derivative contract, and Robinhood would still need to build or join a qualifying venue, clear the notice periods, and live within the volume caps. That could take most of the time between now and the end of 2027.
Ultimately, I expect Robinhood to have tokenized U.S. stock trading live before the end of 2027. It is a prediction about the product, not the stock. Shares now cost about 41 times the earnings analysts expect for 2027, a level that arguably prices in years of strong growth, and I see the stock as a hold here.
But the primary obstacle has always been regulatory, and that is the one that moved last week. The difficult part left is building the product, and Robinhood is not starting from scratch.
Nykredit A/S ve 2. čtvrtletí nově nakoupila 289 269 akcií Robinhood Markets za zhruba 29,0 milionu USD. Tím se přidala k dalším institucionálním investorům, kteří ve firmě dál navyšují podíl.
Nykredit A S acquired a new stake in shares of Robinhood Markets, Inc. (NASDAQ:HOOD – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 289,269 shares of the company’s stock, valued at approximately $29,008,000.
Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its holdings in shares of Robinhood Markets by 2.7% during the 4th quarter. State Street Corp now owns 33,121,452 shares of the company’s stock worth $3,746,036,000 after buying an additional 875,297 shares during the period. Geode Capital Management LLC boosted its position in shares of Robinhood Markets by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 21,171,925 shares of the company’s stock valued at $2,386,944,000 after acquiring an additional 356,902 shares during the period. Norges Bank bought a new stake in shares of Robinhood Markets in the fourth quarter valued at approximately $1,202,160,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Robinhood Markets by 10.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,812,999 shares of the company’s stock valued at $472,141,000 after acquiring an additional 632,403 shares during the period. Finally, Amundi lifted its position in shares of Robinhood Markets by 89.0% in the 1st quarter. Amundi now owns 6,385,232 shares of the company’s stock worth $442,497,000 after acquiring an additional 3,007,103 shares during the period. 93.27% of the stock is owned by institutional investors.
Insider Activity at Robinhood Markets In related news, CEO Vladimir Tenev sold 375,000 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $116.17, for a total value of $43,563,750.00. Following the completion of the transaction, the chief executive officer owned 375,000 shares of the company’s stock, valued at approximately $43,563,750. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Shiv Verma sold 11,472 shares of Robinhood Markets stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $110.42, for a total transaction of $1,266,738.24. Following the completion of the sale, the chief financial officer owned 56,858 shares in the company, valued at $6,278,260.36. The trade was a 16.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 621,121 shares of company stock worth $69,944,686. 13.48% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets A number of analysts have recently issued reports on HOOD shares. Citigroup restated a “market outperform” rating on shares of Robinhood Markets in a research report on Thursday, May 28th. Scotiabank started coverage on Robinhood Markets in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $136.00 price objective on the stock. Loop Capital set a $142.00 target price on Robinhood Markets in a report on Tuesday, September 8th. Wall Street Zen upgraded Robinhood Markets from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Robinhood Markets in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $130.88. Read Our Latest Stock Report on HOOD
Robinhood Markets Stock Performance Shares of Robinhood Markets stock opened at $119.82 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $107.73 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 2.19 and a beta of 2.34. The stock’s 50-day moving average is $103.38 and its 200-day moving average is $90.93. Robinhood Markets, Inc. has a one year low of $63.51 and a one year high of $153.86.
Robinhood Markets (NASDAQ:HOOD – Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.18. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Robinhood Markets had a return on equity of 22.43% and a net margin of 42.01%.Robinhood Markets’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Equities analysts predict that Robinhood Markets, Inc. will post 2.15 earnings per share for the current fiscal year.
More Robinhood Markets News Here are the key news stories impacting Robinhood Markets this week:
Positive Sentiment: The SEC created a temporary, five-year pathway for qualifying platforms to trade certain tokenized U.S. stocks, provided investors retain traditional shareholder rights and issuers can object. The framework could support Robinhood’s strategy of bringing stock trading onchain and closer to 24/7 availability. SEC clears path for tokenized stocks Positive Sentiment: Robinhood CEO Vlad Tenev said “tokenization is coming to America,” reinforcing management’s commitment to the emerging market after the SEC decision. A successful U.S. rollout could create new trading, custody and digital-asset revenue opportunities. Robinhood CEO discusses tokenization Positive Sentiment: Traders bought approximately 345,561 HOOD call options, about 19% above typical daily call volume. The activity suggests increased bullish positioning, although options flows can also amplify volatility. Positive Sentiment: Zacks said the SEC action gives Robinhood a potential U.S. tokenized-stock pathway, while Needham recently raised its price target to $123 from $120 and maintained a Buy rating. Zacks tokenized-stock analysis Neutral Sentiment: Robinhood executive Abhishek Fatehpuria is scheduled to discuss the company’s strategy for attracting modern financial consumers at TechCrunch Disrupt 2026. The event may provide business updates, but no material announcement was reported yet. Fatehpuria at TechCrunch Disrupt Neutral Sentiment: CFO Shiv Verma sold 11,472 shares worth about $1.27 million under a pre-arranged Rule 10b5-1 plan. The sale reduced his direct holdings by 16.79%, but its scheduled nature limits its value as a bearish signal. Robinhood CFO SEC filing Robinhood Markets Profile (Free Report)
Robinhood Markets, Inc is a financial services company that operates a digital investing and trading platform. Through its mobile app and website, the company provides access to U.S. stocks, exchange-traded funds, options, cryptocurrencies and other investment products. Robinhood also offers individual retirement accounts, margin investing and cash-management services, subject to applicable eligibility requirements and regulations.
The company generates revenue from sources that include interest earned on customer cash and margin balances, transaction-based revenue related to options and cryptocurrency trading, subscription fees for Robinhood Gold and other service-related activities.
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SEC otevřela cestu k tokenizovaným akciím amerických firem a umožnila jejich obchodování v rámci pětileté výjimky Innovation Exemption. Tokeny musí zachovat stejná práva jako akcie, včetně dividend a hlasovacích práv, a firma může jejich tokenizaci zablokovat po oznámení do 30 dnů.
The Securities and Exchange Commission on Thursday issued an order creating a regulatory pathway for certain trading venues to issue tokenized representations of publicly traded U.S. stocks, effective immediately.
The so-called Innovation Exemption provides certain trading platforms and liquidity providers with the regulatory relief needed to facilitate tokenized stock trading, provided they meet certain conditions. Two of the requirements have emerged as key points of contention in the investment community: Holders of stock tokens must retain the same rights they would have with traditional equity holdings, and companies must be able to object to having their securities represented as tokens.
The long-awaited move by the securities regulator comes two days after the Clarity Act, crypto's most consequential push for regulatory certainty, failed to advance in the Senate. The crypto market structure bill would have established clear rules for how digital assets, including tokenized securities, are classified and regulated. Now the SEC is moving to define that regulatory boundary through its existing authority.
"The Innovation Exemption is designed to resolve challenges that have prevented responsible innovation from taking root in the United States while providing investor protections and market integrity standards," SEC Chair Paul Atkins said in a statement.
Though not a formal rulemaking, the five-year exemption is meant to open up activity in the market that could inform final rules and perhaps even help Congress determine whether new laws are needed. It's part of the agency's "Project Crypto" initiative, launched last year, to bring America's financial markets onchain.
"The Commission is not cementing today's technology as the standard for tomorrow," Atkins said. "Instead, it is allowing the market to evolve, monitoring its development, and using that insight to inform a nimbler and future-ready regulatory framework. ... Critically, this interim measure must be followed by durable rulemaking to ensure that onchain markets remain a viable pathway as our capital markets continue to evolve."
Tokenization — the process of issuing digital representations of publicly traded securities, real world assets or any other form of value on a blockchain network — has become a major topic of interest in the market given the potential for blockchain technology to improve accessibility and liquidity across financial assets.
Coinbase, Robinhood, Gemini and Payward's Kraken exchange have launched offshore tokenized equity offerings but have yet to offer it to U.S. customers.
With greater adoption, tokenization could change how securities are traded and settled, potentially enabling 24/7 trading and allowing tokenized assets to integrate more easily with blockchain-based financial infrastructure.
There are potential drawbacks, however, including increased volatility and greater exposure to large price swings when trading activity is thinner.
Thursday's Innovation Exemption includes volume limits to mitigate potential risks and major swings.
A stock by any other nameAs companies increasingly explore tokenized stocks and other assets, the push is raising questions about what rights tokens should actually provide for holders. The debate centers on whether investors should receive the same economic and shareholder rights as they would with traditional shares — particularly voting rights.
The issue came into sharper focus after a public fight between the CEOs of Robinhood and AMC over Robinhood's stock-token model. AMC CEO Adam Aron argued that by creating exposure to AMC stock without the issuing company's involvement, Robinhood and others enabling the practice undermine the traditional relationship between companies and their shareholders.
The new Innovation Exemption stipulates that stock tokens need to provide holders with the same rights and privileges as the traditional securities, including rights to receive dividends and exercise voting rights.
Companies can object to and prevent their security from trading as a token. Trading platforms should notify the company of their intention to tokenize the shares and wait 30 days after the company receives the notice to start trading the token, according to an SEC spokesperson. If the company objects in that 30-day period, the trading venue can not make the tokenized stock available for trading, he added.
Despite concerns, the spokesperson said the Commission has had discussions with issuers and that there is growing optimism about the potential of tokenization and that feedback from the issuer community suggests the technology will be adopted in some form.
Robinhood said this week it's now moving to address those concerns. The company plans to let stock-token holders redeem their tokens for the underlying shares on a 1:1 basis and add voting rights.
Robinhood klesá o 5 % poté, co federální prokurátoři obvinili dva bývalé inženýry kvůli obchodům s krypto deriváty před oznámeními o zalistování. Webull padá o 9 % v návaznosti.
Federal prosecutors in Manhattan just charged two former Robinhood engineers over crypto trades, and the fallout is already hitting brokerages that had nothing to do with it.
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Robinhood Markets (NASDAQ:HOOD | HOOD Price Prediction) is falling on a legal headline that names two of its former employees rather than the company itself. Robinhood stock is down 5% to $105.1 in Wednesday trading after federal prosecutors in Manhattan disclosed criminal charges tied to trading in crypto derivatives ahead of Robinhood listing announcements. Webull (NASDAQ:BULL) is sliding harder in sympathy.
The setup is unusual because the asset the two brokerages sit exposed to isn’t doing much today. The iShares Bitcoin Trust ETF (NASDAQ:IBIT) is down 0.6% to $42.86, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.4% to $760.33. Robinhood and Webull shares are being repriced on regulatory and reputational risk, not on a Bitcoin (CRYPTO:BTC) move.
Webull stock is down 9% to $7.92, extending losses even though the charges name former Robinhood employees and no one at Webull. That reads as sympathy selling across retail brokerages with crypto exposure.
Charges Filed Against Two Former Engineers The U.S. Attorney’s Office for the Southern District of New York reportedly announced charges yesterday evening against two former Robinhood engineers, Hefu Chai and Huaisong Xiang, each with one count of violating the Commodity Exchange Act.
Prosecutors allege that the two bought perpetual futures tokens on Hyperliquid, a decentralized exchange, ahead of Robinhood’s public announcements that the underlying tokens would be listed on Robinhood Crypto. Jamie McDonald, the U.S. Attorney for the Southern District of New York, stated each is alleged to have profited more than $50,000.
The charges name the two individuals. Robinhood itself isn’t accused of wrongdoing in the announcement, and today’s sell-off is a repricing of the reputational and regulatory exposure that comes with running a crypto listings business.
Peers Follow the Move Webull’s decline shows how quickly the market reads a Robinhood-linked crypto headline into the wider retail-brokerage cohort. Webull runs Webull Pay, its own crypto-trading arm, and it tends to move in tandem with Robinhood on days when a sector narrative dominates.
The framing contrast is the clearest read available today. Notably, the iShares Bitcoin Trust ETF is barely lower and the S&P 500 proxy is slightly higher, yet Robinhood and Webull are both falling hard. That is a broker-specific reaction, not a crypto-market one.
There’s also an older backdrop worth naming for Robinhood holders. The Senate failed to advance the CLARITY Act, a digital asset regulation bill, in a procedural vote on Tuesday. That result was already pressuring crypto-linked equities, including Robinhood, before the Southern District of New York charges landed.
What to Watch Investors can watch for whether Robinhood issues its own statement addressing the alleged conduct and its internal controls around listing information. A company response can shift the framing from a personal-conduct story to a governance story, or vice versa.
The other cue is durability. If Robinhood stock stabilizes near current levels while Webull keeps sliding, the market is treating this as an idiosyncratic Robinhood event with a peer wobble rather than a sector reset.
Position sizing matters here for anyone already long Robinhood shares. Traders may want to keep their exposure scaled for headline risk, since the news flow around crypto listings, insider conduct, and pending federal legislation can move Robinhood stock in either direction on short notice.
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Robinhood čelí novým omezením na sportovní kontrakty v Connecticutu a Michiganu, což může zpomalit růst predikčních trhů. Ve 2. čtvrtletí tyto výnosy dosáhly 156 milionů USD, více než výnosy z akcií (129 milionů USD) i krypta (100 milionů USD).
Key Takeaways Robinhood faces new sports contract restrictions in Connecticut and Michigan amid tougher state enforcement.Event contract revenues hit $156 million in Q2, topping equities and crypto revenues as volumes surged.Robinhood could face narrower market access, higher compliance costs and slower sports-led growth. Robinhood’s (HOOD - Free Report) prediction markets expansion is colliding with tougher state gaming enforcement, and Connecticut and Michigan show how regulatory friction could slow a business that is becoming increasingly important to HOOD.
Last week, Connecticut ordered Robinhood and eight other platforms to immediately stop offering sports event contracts to residents, while issuing nearly 30 subpoenas tied to its broader investigation. The state says these products violate gaming and unfair-trade laws and warned that non-compliance could trigger civil or criminal penalties. Connecticut also noted that a federal judge ruled in August that sports event contracts constituted illegal unlicensed gambling and were not shielded by federal commodities law.
Michigan adds another constraint. Under a court-approved Sept. 4 agreement, Robinhood stopped offering new sports-related event contracts in the state by Sept. 9 and must close remaining customer positions by Oct. 9. Importantly, the restriction covers contracts traded on CFTC-regulated designated contract markets, including Kalshi and Robinhood-backed Rothera.
The timing matters. Robinhood generated $156 million of event contract revenues in the second quarter, up more than 10-fold year over year and above equities revenues of $129 million and crypto revenues of $100 million. Event contract volume reached 13.6 billion in the second quarter. August volume was 4.7 billion, down 23% sequentially but still 15 times the year-ago levels.
The two-state pullback will not derail Robinhood’s nationwide push, but additional state restrictions could limit market access, increase compliance costs and temper sports-driven growth. Until the federal-state jurisdiction dispute is resolved, regulatory uncertainty is likely to remain an overhang on this fast-growing revenue stream for HOOD.
HOOD’s Competitors in the Prediction Markets BusinessRobinhood faces intense competition from Interactive Brokers (IBKR - Free Report) and Coinbase Global (COIN - Free Report) in the prediction markets business.
Interactive Brokers has created a unified prediction-market interface spanning its ForecastEx platform, Kalshi and CME Group, with orders routed toward the best available net price. Interactive Brokers plans to add more exchanges and remains focused on economically relevant events such as elections, climate and macro indicators, while expanding weather offerings into hurricane-landfall and insurance-risk contracts.
Coinbase Global is scaling even faster. Its prediction market contracts and revenues jumped 106% sequentially in the second quarter of 2026, pushing the business above $100 million in annualized revenues. Coinbase’s new crypto-binary experience drove roughly three times as many daily traders and four times the daily revenue versus May averages, while management plans to add combination trades.
HOOD’s Price Performance, Valuation & Estimate AnalysisOver the past six months, Robinhood’s shares have jumped 42.8% compared with the industry’s growth of 22.6%.
Image Source: Zacks Investment Research
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.47X compared with the industry average of 3.27X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 2.9%. The trend is likely to continue next year, with earnings expected to jump 33%. In the past 30 days, earnings estimates for 2026 and 2027 have been revised higher to $2.11 and $2.81 per share, respectively.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Robinhood v srpnu zvýšil počet financovaných klientů na 28,6 milionu a celková aktiva platformy vzrostla meziročně o 26 % na 383,7 miliardy USD. Objem obchodů s akciemi vyskočil meziročně o 68 %, zatímco objem obchodů s opcemi meziměsíčně klesl o 10 %.
Key Takeaways Robinhood's funded customers hit 28.6M as platform assets rose 26% year over year to $383.7B.Equity volumes jumped 68% year over year, while crypto rebounded 61% from July to $17.5B.Options fell 10% from July and event contracts declined 23%, pointing to uneven trading engagement. Robinhood Markets’ (HOOD - Free Report) August 2026 operating metrics pointed to resilient customer and asset growth, although trading activity across products remained mixed. Funded customers reached 28.6 million, up about 120,000 from July and 1.9 million year over year.
As of Aug. 31, 2026, total platform assets jumped 8% sequentially and 26% year over year to $383.7 billion. Net deposits totaled $4 billion, down from $5.6 billion in July and $4.8 billion in August 2025.
Trading trends were less uniform. Equity notional volumes rose 1% month over month and surged 68% year over year to $335.4 billion, with average daily volumes rising 6% sequentially to $16 billion. Crypto activity rebounded sharply, with notional volumes climbing 61% from July to $17.5 billion, though they remained 38% below the prior-year level.
Conversely, options contracts traded declined 10% sequentially to 292.5 million despite increasing 50% year over year. Event contracts fell 23% from July to 4.7 billion, but were still 15 times the year-ago level. Margin balances remained strong, rising 4% sequentially and 72% year over year to $21.5 billion.
The mixed trading backdrop is worth monitoring given Robinhood’s dependence on transaction-based activity. In the second quarter, transaction-based revenues rose 44% year over year to $776 million, accounting for roughly 59% of total revenues.
Continued growth in assets, customers and equity activity supports the company’s earnings outlook and platform monetization potential. But persistent weakness in options or event-contract volumes could lead to near-term revenue volatility. The August metrics reinforce HOOD’s strong growth momentum, but sustained trading engagement will be key to supporting further upside.
What’s Driving Steady Revenue Growth at HOOD’s Peers?Two close peers of HOOD are Charles Schwab (SCHW - Free Report) and Interactive Brokers Group (IBKR - Free Report) .
Schwab’s solid monthly metrics, supported by sustained client asset growth, healthy net new asset inflows and active trading, will underpin steady revenue growth. Schwab’s larger asset base will likely lift asset management and administration fees, while resilient client cash and trading activity are expected to support net interest and transaction revenues.
Interactive Brokers’ strong monthly metrics, supported by rising client accounts, higher customer equity and sustained trading volumes, are likely to drive steady revenue growth. Expanding client assets are expected to boost interest income and commissions, while continued account additions strengthen recurring activity and provide a solid base for long-term earnings growth at Interactive Brokers.
HOOD’s Price Performance, Valuation & Estimate AnalysisOver the past three months, Robinhood’s shares have gained 14.7%, outperforming the industry’s 6.3% growth.
Image Source: Zacks Investment Research
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.69X compared with the industry average of 3.35X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 2.9%. The trend is likely to continue next year, with earnings expected to jump 33%. In the past week, earnings estimates for 2026 and 2027 have been revised higher to $2.11 and $2.81 per share, respectively.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ARK Invest Cathie Wood se tento měsíc vrátil k nákupům Robinhood a přikoupil 28 589 akcií 4. září a dalších 27 083 akcií po svátku Labor Day, celkem 55 672 akcií po předchozích letních prodejích. Tahounem jsou hlavně event contracts, které ve 2. čtvrtletí přinesly 156 milionů USD výnosů, více než krypto obchodování.
Cathie Wood's ARK Invest went back to Robinhood (HOOD -0.67%) this month. The firm bought 28,589 shares of the brokerage for its flagship ARK Innovation ETF on Sept. 4, then added 27,083 more on the first trading day after the Labor Day break.
The purchases mark a reversal. ARK sold Robinhood shares for much of the summer, unloading a big block in July and selling again as recently as Aug. 26. And while the firm discloses its trades daily, those notices don't explain the reasoning, so Wood hasn't said what changed her mind.
The first of the two buys came one day after shares jumped about 17% in a single session. Even after that pop, the stock (about $113 as of this writing) would still have to climb about 36% to get back to its 52-week high of $153.86.
Robinhood published its August operating data on Thursday, two days after the second purchase. Those numbers describe the business ARK was buying, and I think they make the purchases easier to understand.
Here are three reasons I think Wood is buying Robinhood stock again.
Image source: Getty Images.
1. Event contracts now out-earn cryptoRobinhood's event contracts (prediction markets, where customers trade yes-or-no contracts on outcomes like elections and economic data) are scaling faster than anything else the company operates. In the second quarter, event contracts generated $156 million of revenue, up more than 10-fold year over year. That was more than the $100 million Robinhood earned from crypto trading during the period, a line whose revenue fell 38%.
The growth carried into August. Customers traded 4.7 billion event contracts during the month, 15 times the year-ago figure but 23% less than July. July's 6.1 billion was itself down 5% from June.
Sure, volumes have now cooled for two straight months from the June peak. But a product still running at 15 times last year's volume is arguably the kind of new-market growth a fund like ARK exists to own.
2. Assets keep flowing inThe tech company ended August with $384 billion in total platform assets, up 8% from the end of July and 26% year over year. Net deposits added $4 billion during the month and about $74 billion over the trailing 12 months. That deposit figure is money that flowed into accounts, separate from anything the market did. And it kept arriving even when the totals dipped -- total platform assets fell 4% in July, to $355 billion, before the August rebound. Funded customers reached 28.6 million, up about 1.9 million over the past year.
After all, nearly everything else a brokerage earns runs on those assets: trading activity, margin lending, and interest on customer cash. An asset base a quarter larger than it was a year ago gives Robinhood more to monetize no matter which product is popular in a given month.
3. Customers are borrowing moreMargin balances ended August at $21.5 billion, up 4% from July and 72% over the past year. Robinhood's margin book had already more than doubled over the 12 months through June, finishing the second quarter at $21.6 billion, and balances have held near that level since.
In other words, customers aren't just parking money on the platform. They're borrowing against their portfolios to invest more. And that lending earns Robinhood interest in busy markets and quiet ones.
Of course, margin balances can unwind quickly in a market decline, and the interest income tied to them moves with rates. But that kind of deepening engagement is a big part of what makes Robinhood a growth stock rather than an ordinary brokerage.
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Would I buy the stock, too?As for whether I'd join Wood, I view Robinhood stock as a hold today -- not a buy.
The company is executing about as well as a growth investor could ask. However, the stock isn't a clear buy here, in my opinion.
At about 39 times projected earnings for 2027, shares already assume years of strong growth from the same business lines. For investors who already own them, that alone isn't a reason to sell, in my view. If the stock fell meaningfully from here, or if event contracts kept scaling anywhere near their current pace while the share price stood still, I could change my mind.
Robinhood čelí nové regulaci kvůli tokenizovaným akciím, které dávají jen ekonomickou expozici bez vlastnictví či hlasovacích práv. Spory a dohled úřadů mohou zvýšit náklady a zpomalit expanzi.
Key Takeaways Robinhood says Stock Tokens provide economic exposure but no ownership, beneficial rights or voting rights.Regulators could assert jurisdiction over Robinhood's tokenized products, raising compliance costs and delays.Robinhood offers 190 U.S. stock and ETF tokens in 120 countries as tokenization drives global expansion. Robinhood Markets’ (HOOD - Free Report) push into tokenized equities is drawing fresh scrutiny after AMC Entertainment CEO Adam Aron objected to a Robinhood-linked token referencing AMC shares without the company’s approval. Aron argued that the product could confuse investors and undermine issuer rights, while Robinhood CEO Vlad Tenev defended the structure, saying companies do not control third-party products that reference their shares.
The dispute matters because tokenization is central to Robinhood’s international expansion strategy. Its new Stock Tokens, issued by Robinhood Assets (Jersey) Limited, cover more than 190 U.S. stocks and ETFs, and are available through Robinhood Wallet in more than 120 countries. Separately, the company offers more than 2,000 Classic Stock Tokens to eligible European customers with 24/5 trading.
However, these products are not underlying shares. Robinhood’s filings state that Stock Tokens are tokenized debt securities providing economic exposure but no legal or beneficial ownership or voting rights. They are not registered under U.S. securities laws and are restricted in markets including the United States, Canada, the United Kingdom and Switzerland.
Regulation could therefore slow expansion. Robinhood has acknowledged that the Securities and Exchange Commission could assert jurisdiction because the referenced assets are U.S. securities. At the same time, the Bank of Lithuania has sought clarifications on its European tokenized-stock offerings.
Tokenization remains integral to Robinhood’s global expansion. With more than 1 million international funded customers, $384 billion in platform assets and 28.6 million funded customers, regulatory friction is likely to raise compliance costs and delay execution. Still, it is unlikely to derail HOOD’s broader growth.
How are Robinhood’s Peers Expanding Globally?Two close peers of HOOD are Charles Schwab (SCHW - Free Report) and Interactive Brokers Group (IBKR - Free Report) .
Schwab is expanding globally through international brokerage, Global Account access to foreign markets and advisory services for overseas clients, with operations spanning the U.K., Hong Kong and Singapore. However, country-specific restrictions and oversight from foreign regulators, alongside capital, client-protection and market-conduct rules, can raise costs and constrain product expansion internationally for Schwab.
Interactive Brokers is expanding globally by adding Korean equities, Brazilian futures, Romanian stocks and easier Latin American funding, extending access across more than 170 markets. However, Interactive Brokers’ operations face oversight from U.S. and foreign regulators, higher compliance costs, capital requirements, licensing constraints and risks from changing securities, derivatives and cross-border rules.
HOOD’s Price Performance, Valuation & Estimate AnalysisOver the past three months, Robinhood’s shares have gained 21.6%, outperforming the industry’s 8.5% growth.
Image Source: Zacks Investment Research
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 11.77X compared with the industry average of 3.34X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year increase of 2%. The trend is likely to continue next year, with earnings expected to jump 34.5%. In the past week, earnings estimates for 2026 and 2027 have been revised higher to $2.09 and $2.81 per share, respectively.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is Robinhood (HOOD -1.69%) trying to dethrone Goldman Sachs? Not quite, but it is slowly creeping toward becoming an investment bank for its individual client traders.
2026 is turning into the hottest initial public offering (IPO) year on record for capital raised, and Robinhood wants to turn that into value for its customers. For the first time ever, Robinhood will be an underwriter for an IPO, which will help deliver IPO allocations directly to its customers and generate direct revenue.
Does that make Robinhood stock a buy today?
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Underwriting the Oura IPO Soon, the smart ring and health insights company Oura Ring will go public via an IPO. It is looking to raise $3 billion from investment banks as a part of the IPO process and has chosen 18 banks to work with.
The last bank on the list is a surprise: Robinhood. The brokerage for individual investors is, for the first time, going to underwrite an IPO, meaning Oura will use it to sell stock directly to its Robinhood clients. This differs from Robinhood's previous IPO program for its customers, which simply served as an intermediary connecting clients to IPO allocations.
Now it can sell common stock directly to its customers, which could help it gain a competitive edge over other brokerages. If Robinhood is the best app for securing IPO allocations, it could drive greater customer adoption.
Image source: Getty Images.
Emerging beyond just a brokerage Robinhood's brokerage business is doing well today. Last quarter, transaction revenue grew 44% year over year to $776 million even as cryptocurrency revenue collapsed. This is due to steady growth from its stock-and-options trading platforms, along with rapid growth from its new events trading platform, which is similar to prediction markets like Polymarket.
In personal finance, Robinhood has moved toward becoming more of a bank, aiming to attract deposits and customers for its credit cards. Its "other" revenue grew 54% to $143 million last quarter, and it now says it has 13 business lines with annualized revenue of $100 million or more. This is much more than just a stock trading platform.
It recently launched a high-fee benefits card called Robinhood Platinum (stealing directly from the American Express brand) that could drive even more payments and subscription revenue. Robinhood's average revenue per user (ARPU) grew 24% year over year last quarter to $187 and has grown by 14% annually since 2020.
HOOD PE Ratio data by YCharts.
Should you buy Robinhood stock? Right now, Robinhood trades at a market cap of $104 billion, making it one of the largest financial services companies in the world. Its trailing net income is $2 billion, giving the stock a price-to-earnings ratio (P/E) of around 51.
This is expensive for a stock trading platform, let alone a business trying to move into banking services (most banks trade around 10x earnings). Robinhood has shown investors it can grow by expanding into new product categories, such as the Robinhood Platinum card or this recent foray into investment banking to fund IPO shares for its customers. However, much of the future growth associated with these financial services products seems priced into the stock today.
Robinhood's net income grew 48% last quarter to $573 million. Remember, these are bull market earnings, too. Don't expect Robinhood's net income to grow at 48% per year in perpetuity. To reach $10 billion in annual earnings and a valuation that makes sense for a brokerage/banking stock, it will need to grow its net income by 5x. That will take many years even if this current earnings growth rate is upheld. It is likely best to wait to buy Robinhood stock until it reaches a cheaper level.
Robinhood v srpnu zvýšil počet financovaných klientů na 28,6 milionu a celková aktiva platformy na 383,7 miliardy USD, což je meziměsíčně o 8 % více. Čisté vklady dosáhly 4,0 miliardy USD.
MENLO PARK, Calif., Sept. 10, 2026 (GLOBE NEWSWIRE) -- Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for August 2026.
Funded Customers at the end of August were 28.6 million (up approximately 120 thousand from the end of July 2026, up approximately 1.90 million year-over-year). Total Platform Assets at the end of August were $384 billion (up 8% from the end of July 2026, up 26% year-over-year). Net Deposits were $4.0 billion in August, or a 14% annualized growth rate relative to July 2026 Total Platform Assets.
Over the last twelve months, Net Deposits were $74.1 billion, or an annual growth rate of 24% relative to August 2025 Total Platform Assets. Trading Volumes in August: Equity Notional Trading Volumes were $335 billion (up 1% from July 2026, up 68% year-over-year). Average daily volumes (“ADVs”)3 were $16.0 billion (up 6% from July 2026, up 68% year-over-year).Options Contracts Traded were 293 million (down 10% from July 2026, up 50% year-over-year). ADVs were 13.9 million contracts (down 5% from July 2026, up 49% year-over-year).Crypto Notional Trading Volumes were $17.5 billion (up 61% from July 2026, down 38% year-over-year), including Robinhood App Notional Trading Volumes of $7.4 billion (up 72% from July 2026, down 46% year-over-year) and Bitstamp Notional Trading Volumes of $10.1 billion (up 53% from July 2026, down 30% year-over-year). Robinhood App ADVs were $239 million (up 72% from July 2026, down 46% year-over-year), and Bitstamp ADVs were $326 million (up 53% from July 2026, down 30% year-over-year).Event Contracts Traded were 4.7 billion (down 23% from July 2026, up 15x year-over-year). ADVs were 152 million contracts (down 23% from July 2026, up 14x year-over-year).
Interest Earning Assets in August: Margin balances at the end of August were $21.5 billion (up 4% from the end of July 2026, up 72% year-over-year).Cash and Deposit balances at the end of August were $19.6 billion (up 1% from the end of July 2026, up 37% year-over-year).Cash Sweep balances at the end of August were $31.2 billion (up 7% from the end of July 2026, down 9% year-over-year).
Total Securities Lending Revenue in August was $36 million (down 10% from July 2026, down 32% year-over-year). This includes Securities Lending, Net revenues of ($8) million. August
2026July
2026M/M
ChangeAugust
2025Y/Y
Change(M - in millions, B - in billions) Funded Customer Growth (M) Funded Customers128.628.5-26.7+7% Asset Growth ($B) Total Platform Assets1$383.7$355.0+8%$303.9+26%Net Deposits1,2$4.0$5.6NM$4.8NM Trading Equities and Options Trading Days2122(5%)21-Crypto and Prediction Markets Trading Days3131-31- Total Trading Volumes Equity ($B)$335.4$332.8+1%$199.2+68%Options Contracts (M)292.5324.2(10%)195.5+50%Crypto ($B)$17.5$10.9+61%$28.1(38%)Robinhood App ($B)$7.4$4.3+72%$13.7(46%)Bitstamp ($B)$10.1$6.6+53%$14.4(30%)Event Contracts (B)4.76.1(23%)0.3+15x Average Daily Trading Volumes3 Equity ($B)$16.0$15.1+6%$9.5+68%Options Contracts (M)13.914.7(5%)9.3+49%Crypto ($M)$565$352+61%$906(38%)Robinhood App ($M)$239$139+72%$442(46%)Bitstamp ($M)$326$213+53%$465(30%)Event Contracts (M)152197(23%)10+14x Daily Average Trades (DATs) (M) Equity4.74.8(2%)3.6+31%Options2.02.1(5%)1.2+67%Crypto0.70.6+17%1.0(30%) Interest Earning Assets ($B) Margin Book$21.5$20.7+4%$12.5+72%Cash and Deposits4$19.6$19.5+1%$14.3+37%Cash Sweep4$31.2$29.2+7%$34.1(9%) Securities Lending ($M) Total Securities Lending Revenue$36$40(10%)$53(32%)Securities Lending, Net($8)$1NM$24NM 1. Starting in July 2026, Total Platform Assets include Trump Account assets custodied by Robinhood, and Net Deposits include Trump Account contributions. Funded Customers do not include Trump Accounts.
2. Starting in June 2025, Net Deposits include results from Bitstamp. Starting in March 2026, Net Deposits include results from TradePMR. Starting in June 2026, Net Deposits include results from WonderFi.
3. Average daily volumes (“ADVs”) defined as Total Trading Volume in a given period divided by the applicable number of trading days in said period.
4. In February 2026, we updated our brokerage High-Yield Cash program to fund growth in margin lending. Under the updated program, the first $10 thousand in enrolled balances per eligible customer are held as free credit balances where the customer continues to earn the same interest rate. This resulted in over $6 billion of Cash Sweep balances moving to free credit balances in February 2026.
Note: Robinhood Chain revenue is shared with its launch partners, with Robinhood retaining 50% of sequencer revenue until a total of approximately $50M; then 70% until a cumulative total of approximately $150M; and finally 85% of any additional sequencer revenue in excess of approximately $150M. Robinhood Chain volumes are not included in Crypto Trading Volumes.
For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics release, which is available on investors.robinhood.com.
The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.
About Robinhood
Robinhood Markets, Inc. (NASDAQ: HOOD) is a global leader in financial services offering retail brokerage, crypto, advisory, digital banking services, and private markets access to a new generation of investors. Additional information about Robinhood can be found at robinhood.com.
Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its Newsroom (accessible at newsroom.aboutrobinhood.com), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.
“Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.
Robinhood uzavřel víceletou dohodu s OG.com, která bude zajišťovat infrastrukturu a clearing pro jeho prediction markets. Spuštění pro vybrané zákazníky v USA má začít postupně od 8. září 2026.
Partnership Leverages OG.com's CFTC-regulated Platform Following $5 Billion Spin-off from Crypto.com
, /PRNewswire/ -- Robinhood Markets, Inc. (NASDAQ: HOOD) and prediction market platform OG.com today announced a landmark multi-year partnership designating OG.com as an infrastructure and clearing provider for Robinhood's Prediction Markets offering.
OG.com x Robinhood x Crypto.com Under the agreement, Robinhood will route retail event contract volume through OG.com's underlying Commodity Futures Trading Commission (CFTC) regulated derivatives exchange and clearinghouse architecture. Prediction Markets on Robinhood are offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the CFTC and Member of National Futures Association (NFA). This agreement will represent OG.com's largest B2B prediction markets partnership in terms of transaction volumes.
The partnership follows Citadel Securities investment into Crypto.com at a $20 billion valuation, which includes a standalone $5 billion valuation of OG.com through its strategic spin-off from Crypto.com. By separating from the core digital asset exchange infrastructure, OG.com operates as an independent company with dedicated capital allocation focused exclusively on scaling its direct consumer experience and deepening its institutional-grade, CFTC-regulated framework across sports, financials, and economic contract markets and margined derivatives.
As part of the deal, Robinhood will hold initial equity stakes in Crypto.com and OG.com following the latter's spin-off as an independent trading platform and the equity will be priced in line with the recent investment of Citadel Securities into the Crypto.com Group at a $20 billion valuation.
By routing contracts to OG.com Robinhood is expanding its existing prediction markets offering, making it an even higher-capacity engine capable of handling institutional-grade liquidity, instant clearing, and a more dynamic event catalog expansion across macroeconomic indicators, global sports, elections, and cultural milestones. The rollout of OG.com-backed event contracts on the Robinhood app will begin in phases to eligible U.S. customers starting on September 8, 2026.
"This is the beginning of a strategic partnership between both companies," said Kris Marszalek, Founder and CEO of Crypto.com and OG.com. "We're looking forward to making OG.com the most liquid venue globally for innovative derivative instruments, starting with prediction markets and quickly expanding into futures and perpetuals."
"Teaming up with Crypto.com and OG.com strengthens our position as a leader in the prediction markets space and gives us even more skin in the game," said JB Mackenzie, VP and GM of Futures and Prediction Markets at Robinhood. "Prediction markets are becoming an increasingly meaningful way for investors to engage with the events they care about, and this deal helps us meet our growing customer demand."
This multi-year partnership accelerates the evolution of modern market infrastructure by directly aligning retail accessibility with institutional-grade derivatives execution. OG.com's operational separation into a standalone entity creates the dedicated agility, specialized capital allocation, and regulatory clarity required to power high-frequency prediction markets. Simultaneously, Robinhood's integration and direct equity stake position both companies to capture the surging global demand for CFTC-regulated event contract trading and other innovative products.
By partnering with OG.com, Robinhood is further improving its execution layer with an established exchange infrastructure offering deep liquidity, ensuring strict federal compliance under CFTC oversight while supporting Crypto.com and OG.com's broader vision to establish two category-defining financial powerhouses in digital assets and regulated derivatives.
About Crypto.com
Founded in 2016, Crypto.com is trusted by millions of users worldwide and is the industry leader in regulatory compliance, security and privacy. Our vision is simple: Cryptocurrency in Every Wallet™. Crypto.com is committed to accelerating the adoption of cryptocurrency through innovation and development of new use cases including prediction markets and tokenized RWAs.
Learn more at https://crypto.com.
About OG.com
OG.com is an independent trading platform that operates multiple business lines servicing customers globally. Conducting business through registered entities, including the OG of event markets North American Derivatives Exchange, Inc., a designated contract market and derivatives clearing organization registered with the Commodity Futures Trading Commission (CFTC), and the OG Broker, a CFTC-registered Futures Commission Merchant (FCM), OG.com offers an up-to-date trading ecosystem for prediction market contracts across various categories, including sports, financials, economics, culture, and much more.
Built around a comprehensive suite of event contracts, OG.com allows all OGs to be original, whether a customer is a sports fan, an influencer, an oracle of culture, or part of the global community - all OGs can act on uncertainty, trade predictions, engage with a vibrant community, and climb the leaderboard. Available through direct access as well as intermediaries like FCMs and Introducing Brokers, OG.com is where it pays to be right.
Find your edge today at https://OG.com.
OG.com is available in approved jurisdictions. Trading is subject to risk and may not be appropriate for all.
About Robinhood
Robinhood Markets, Inc. (NASDAQ: HOOD) is a global leader in financial services offering retail brokerage, crypto, advisory, digital banking services, and private markets access to a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.
Futures, options on futures and cleared swaps trading is offered by Robinhood Derivatives, LLC ("Robinhood Derivatives"), a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA). Robinhood Derivatives is a wholly-owned subsidiary of Robinhood Markets, Inc. ("Robinhood Markets"-- when including its consolidated subsidiaries, "we," "our" or "Robinhood").
Robinhood posiluje po rozšíření partnerství v prediction markets s Crypto.com a po první roli při upisování IPO u Oura. Goldman Sachs zvýšila cílovou cenu na 142 USD z 124 USD.
Robinhood Markets Inc. (NASDAQ:HOOD) shares are trading higher Tuesday. Factors include an expanded prediction markets partnership and a new IPO underwriting role, alongside fresh analyst price target increases.
Robinhood stock is showing upward movement. What’s pushing HOOD stock higher? Crypto.com Deal Expands Robinhood’s Prediction MarketsAccording to The Wall Street Journal, Robinhood struck a deal with Crypto.com to bring the crypto exchange’s yes-or-no event contracts into Robinhood’s prediction markets hub, alongside an equity stake in Crypto.com. The partnership adds Crypto.com to a growing roster of contract suppliers that already includes Kalshi, Interactive Brokers’ ForecastEx, and Rothera, Robinhood’s joint venture with Susquehanna International Group. Robinhood has recorded more than 16 billion event contracts traded in 2026, already surpassing the more than 12 billion traded across all of 2025.
Robinhood Joins Oura IPO SyndicateSeparately, The Wall Street Journal reported that Robinhood has landed its first-ever IPO underwriting role, joining the syndicate for smart-ring maker Oura’s upcoming public offering. Oura filed for its IPO seeking a valuation exceeding $16 billion, with Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies serving as lead bookrunners. Robinhood is listed 18th in the syndicate, having received regulatory approval to underwrite deals just three months ago in June.
Analyst ActivityGoldman Sachs raised its price target on Robinhood to $142 from $124, maintaining a Buy rating, with analyst James Yaro citing the strong early performance of Rothera. Cantor Fitzgerald maintained an Overweight rating on Robinhood and raised its price target to $150.
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Robinhood Shares Edge HigherHOOD Price Action: At the time of publication, Robinhood shares are trading 3.28% higher at $126.11, according to data from Benzinga Pro.
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Morgan Stanley zvýšila doporučení pro Robinhood na Overweight a cílovou cenu na 150 USD, protože vidí růst i mimo spekulativní obchodování. Akcie po čtvrtečním růstu o 16,6 % v pátek klesly o 2,1 %.
Robinhood Markets stock NASDAQ:HOOD ended Friday at $122.11, capping a volatile week in which Wall Street became markedly more bullish on the brokerage just as its valuation became harder to ignore.
Morgan Stanley upgraded Robinhood to Overweight from Equal Weight and raised its price target to $150 from $124.
Piper Sandler lifted its target to $145, while Scotiabank began coverage with an Outperform rating and $136 target.
The enthusiasm helped drive a 16.6% Thursday surge to $124.72 before the stock slipped 2.1% on Friday. After that rally, Robinhood was already trading around the prevailing analyst consensus target.
Morgan Stanley analyst Michael Cyprys argues Robinhood is becoming less dependent on speculative trading cycles.
Cyprys said there is “increasing evidence” that Robinhood’s expanding product set is improving the economics of its existing customer base.
The company now has 13 businesses generating more than $100 million in annualised revenue.
Morgan Stanley expects revenue to compound at roughly 23% through 2028 to $8 billion and raised its 2026 to 2028 earnings estimates by 12% to 15%.
Scotiabank’s Lance Jessurun made a related argument.
TipRanks reported that he believes investors still value Robinhood too much like a cyclical retail broker, overlooking revenue from subscriptions, interest income, clearing economics and international crypto infrastructure.
That is the bullish case, as Robinhood can grow by monetising the customers it already has rather than waiting for another trading frenzy.
The valuation problem is that investors are increasingly paying for that transformation before it is fully proven.
Prediction markets are the clearest example of both the upside and the uncertainty.
Robinhood generated $156 million of event-contract revenue in the second quarter as total quarterly revenue rose 32% to a record $1.31 billion.
Piper Sandler analyst Patrick Moley expects prediction-market revenue to reach roughly $320 million across the third and fourth quarters, helped by NFL and college football activity.
That growth is helping justify higher price targets, but regulation remains unsettled.
On August 28, the Ninth Circuit affirmed a ruling denying Robinhood preliminary relief against Nevada regulators and rejected arguments that sports-event contracts were beyond state gaming oversight.
The decision also addressed related cases involving Kalshi and Crypto.com.
That does not invalidate Robinhood’s prediction-market business, but it shows that one of the company’s fastest-growing revenue lines can still generate legal and regulatory volatility.
Robinhood’s latest operating data also give investors reasons to stay selective.
Funded customers reached 28.5 million in July, but total platform assets fell 4% from June. Equity trading volume declined 15% month over month, crypto volume dropped 33% and event-contract volume slipped 5%, although event activity remained about 20 times higher than a year earlier.
Wall Street is also far from unanimous.
Rothschild and Co Redburn kept a Sell rating in August and raised its target only slightly to $80, leaving a striking gap with Morgan Stanley’s $150 forecast.
That divergence captures the debate surrounding Robinhood after its latest rally.
Morgan Stanley may be identifying a company that has successfully evolved from a trading app into a diversified financial platform.
But the stock’s move above roughly $122 means investors are increasingly being asked to pay today for growth that still needs to arrive.
Jim Cramer tvrdí, že příliv mladých investorů z Robinhoodu je jedním z hlavních důvodů, proč trh zatím neoslabuje. Robinhood ve 2. čtvrtletí zvýšil tržby o 32 % na 1,308 miliardy USD.
Jim Cramer credits a wave of young Robinhood investors for keeping the market afloat, but the same data he cites contains a hidden accelerant that could flip the floor into a trapdoor.
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On September 3, 2026, Jim Cramer used his CNBC Stop Trading segment to salute Vlad Tenev and argue that young investors flowing money into Robinhood (NASDAQ:HOOD | HOOD Price Prediction) are a big reason this market refuses to break. Shares are trading near $124.71, up 33.38% in the past month.
Cramer is making a flows argument rather than a valuation argument. Flows arguments work beautifully until they reverse, because the same discretionary money that lifts a tape can pull just as quickly.
The question worth answering is whether the retail bid he describes is a structural floor for equities or the market’s most fragile part. Robinhood’s own numbers argue for both readings, which is what makes the call interesting.
Robinhood has stopped being a crypto proxy and has become an asset gatherer, and that shift changes what a bull actually owns when buying the stock.
What Cramer Actually Said About Retail Flows Cramer’s central claim was that “the money coming in that is by rote buying with indices or buying individual stocks or buying ETFs is extraordinary”.
He tied that flow directly to Robinhood’s cohort, arguing the platform’s users have shifted from pure day trading toward genuine investing.
His words on the cohort: “I wish those people spent a little more time watching some of the things we talk about. Be a little more educated, a little less. More day trading. But they’re wow, they’re investing.”
His conclusion tied it to market resilience: “It’s one of the big reasons why I think we continue to manage to be able to stay higher than a lot of people think we can.”
Cramer is treating Robinhood as a proxy for a broader market-wide behavioral shift rather than a company-specific growth story.
Business Underneath the Salute In Q2 2026, crypto revenue fell 38% YoY to $100M, yet total revenue still grew 32% to $1.308 billion. That shift away from a pure crypto proxy is the core of the transition.
Total platform assets reached $369 billion, and net deposits hit a record $21.7 billion at a 28% annualized growth rate. That asset base is the number that matters.
CNBC noted that recent analyst upgrades focused on the sheer amount of assets users are sitting on rather than trading velocity. Transaction revenue is cyclical; revenue tied to a growing asset base is durable and deserves a higher multiple.
Gold subscribers hit 4.8 million, ARPU climbed to $187, and management disclosed 13 business lines, each at $100M+ in annualized revenue, in its Q2 8-K exhibit.
EPS of $0.62 beat the $0.4277 consensus, and management tightened FY26 opex guidance to $2.675 to $2.775 billion. The operating story is real.
Flows Argument on Its Own Terms Automatic recurring buying really does behave differently from discretionary buying. It does not consult a P/E ratio, and it does not stop because a strategist turned cautious.
Robinhood added nearly 1 million funded customers in the quarter, and Tenev said customers “tend to be techno-optimists” who buy during drawdowns instead of selling.
If enough of the deposit flow is programmatic, through retirement contributions, direct-deposit sweeps, and recurring buys, then the bid does not evaporate when the tape turns.
But Robinhood’s revenue mix argues against the pure programmatic case. Options revenue was $342 million on a record 774 million contracts, and the margin book grew 127% YoY to $21.6B.
Leveraged, options-driven money reverses fastest in a drawdown because margin calls are not optional. A record margin book is an accelerant that works in both directions.
Falsifiable Test for Retail’s Floor Cramer conceded the cohort is too crypto-oriented and too options-oriented. That concession deserves more weight than he gave it.
Q1 2026 already offered a preview: revenue of $1.067 billion missed consensus by 6.07%, and crypto revenue collapsed 47% YoY. Retail engagement is not linear.
Agreeing with Cramer about retail flows does not automatically mean owning HOOD. The stock is up 187.7% over five years, and Robinhood captures the flow only as long as it keeps winning the cohort against Schwab, Fidelity, and Coinbase.
Watch net deposits, Gold attach rates, and options volume through the next genuine risk-off tape. If deposits continue to grow while volumes fall, the floor thesis holds.
If deposits and volumes roll over together, Cramer’s floor is really an accelerant, and the Q3 report due this fall will be the first clean read.
Contact [email protected] for any questions or corrections.
AMC CEO Adam Aron pohrozil právními kroky proti Robinhood kvůli tokenům navázaným na AMC, které podle něj ohrožují práva akcionářů i schopnost firmy získávat kapitál. Akcie AMC v premarketu vzrostly zhruba o 5 %.
A synthetic stock market has pushed AMC toward legal action Summary
AMC CEO Adam Aron threatened legal action, arguing Robinhood’s AMC-linked tokens could undermine shareholder rights and AMC’s fundraising ability
AMC Entertainment AMC CEO Adam Aron escalated his fight with Robinhood Markets HOOD, threatening legal action over tokens linked to AMC stock that he says threaten investor rights and the company's ability to raise capital.
Aron said AMC has no relationship with Robinhood's token program and does not approve it. He demanded that Robinhood voluntarily “cease and desist” trading AMC-linked tokens, adding that securities counsel will examine whether AMC can force the platform to stop.
The dispute centers on tokenized real-world assets issued by Robinhood Assets (Jersey) Limited. Aron argues the products are unregistered securities that cannot be sold in the United States and face restrictions in Canada, Britain and Switzerland.
His concern is structural. Tokens can track AMC's share price without representing ownership in AMC itself. Holders may lack voting rights and protections attached to common stock, while trading activity occurs outside the market through which AMC issues equity.
That distinction matters for a heavily indebted company that has repeatedly sold shares to strengthen its balance sheet. Aron described those offerings as “vital.” If synthetic tokens attract capital that might otherwise flow into AMC shares, he fears they could weaken price discovery, confuse investors and complicate future fundraising.
Robinhood CEO Vlad Tenev asked Aron to explain his objections. Aron replied that the list was “almost existential,” turning a product dispute into a public challenge between two executives with large retail-investor followings.
AMC shares rose roughly 5% in premarket trading after the comments. The gain suggests investors welcomed Aron's defense of shareholder rights, although it does not establish that legal action would succeed.
For AMC investors, the next catalyst is whether the company's lawyers formally challenge Robinhood or regulators weigh in. Until then, the fight raises a bigger question: when a token mirrors a stock, who protects the company and its shareholders?
CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs. Insider Cluster Buys: Stocks that multiple company officers and directors have bought. Double Buys: Companies that both Gurus and Insiders are buying Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back. Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Akcie Robinhood v srpnu vzrostly o 21 % díky silným čtvrtletním výsledkům a rally kryptoměn. Tržby stouply meziročně o 32 % na více než 1,3 miliardy USD a čistý zisk o 45 % na 561 milionů USD.
Robinhood Markets (HOOD +16.57%) barreled into August just after publishing an estimates-crushing quarterly earnings report, and its stock only got more popular from there. Thanks in no small part to a rally in cryptocurrencies -- a major focus of the brokerage and financial services company -- its shares ended the month 21% higher.
Monster momentum The stage was set at the end of July for a pronounced Robinhood rally. Its second-quarter results featured a strong 32% year-over-year gain in revenue (to over $1.3 billion), while headline net profit surged 45% higher to $561 million. Both figures were well higher than the average analyst estimates.
Image source: Getty Images.
One negative note in that earnings report was the transaction-based revenue from cryptocurrencies, which sank by 38% to $100 million.
However, worries about this were erased mere weeks later as cryptocurrencies staged an impressive and sustained rally just after mid-August.
Several developments ignited this comeback, including the Treasury Department's promise to double the size of its regular long-term government bond repurchases. President Trump's push for Congress to pass the CLARITY Act, which would provide a regulatory framework for the cryptocurrency industry, also helped.
Rising crypto prices inspired more investors to pile into digital coins and tokens, and Robinhood is one of the brokerages that has embraced crypto trading most enthusiastically. So as cryptos went, so went the company's stock.
Another niche Robinhood dived into wholeheartedly is prediction markets, and like that mid-August crypto rally, these have also been hot. America is a nation of gamblers, and we're happy to wager on almost anything under the sun. In collaboration with top prediction markets company Kalshi, Robinhood offers these services on a wide range of events.
Prediction markets have quickly become a crucial revenue stream for Robinhood. In fact, in that second quarter, they generated more revenue than crypto trading fees.
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The great widening Robinhood has broadened its business to the point where it's no longer dependent on one or even two of its activities to keep the growth train running. At the moment, equities, cryptocurrencies, and prediction markets are immensely popular and producing high transaction volumes.
While this won't last forever for all three, Robinhood should still do well if two, or even one, resists falling into a slump. I believe management has done an admirable job not only by bravely embracing the next-generation markets that today's investors are eager to trade, but also by expanding its reach and scope in the process.
This is an exciting company, and one that I feel has plenty of upside potential with its stock.
Robinhood (HOOD +16.57%) shares were up about 15% as of this writing Thursday, at about $123.
The jump followed a wave of analyst notes and a record day on its own new blockchain network. Morgan Stanley upgraded the stock Tuesday to overweight from equal weight and lifted its price target to $150 from $124, and more bullish notes followed this week.
Morgan Stanley analyst Michael Cyprys argued that Robinhood's expanding product lineup is producing more activity and more revenue per customer. In plain terms, they're arguing Robinhood is no longer just a trading app.
And Robinhood itself put a number on that idea in late July: 13 business lines that have each reached $100 million or more in annualized revenue.
Since then, network data suggests a 14th has joined the list, and it didn't exist three months ago.
Image source: Getty Images.
The count holds upRobinhood's second-quarter report, released in late July, showed record revenue of $1.31 billion, up 32% year over year, and net income up 48% (helped by one-time investment gains). Chief financial officer Shiv Verma said the results reflected the company's product pace, with "Robinhood Legend and the Credit Card business joining our growing roster of now thirteen different business lines that have reached $100 million-plus in annualized revenues."
I count 13 lines in the 10-Q's revenue table that annualize above $100 million (anything above $25 million in the quarter). They span options, event contracts, cryptocurrencies, and equities, five interest-based lines led by margin lending, Gold subscriptions, proxy services, and two catch-all "other" buckets. The company's list is built on products rather than filing line items (Robinhood Legend doesn't get its own row), but both counts land at 13.
Lines can fall off the list, too. Securities lending was above the bar a year ago, at $54 million in the quarter, and produced just $10 million in this one.
How big is the newest line?The 14th didn't appear in any of those documents. It barely existed when they were filed.
Robinhood Chain, the company's own blockchain network built for real-world assets such as tokenized stocks, went live on July 1 -- one day after the second quarter ended.
Not only did the network set a fee record of about $3.8 million on Tuesday, but it also collected more than the Ethereum and Base networks that day. It broke that record Wednesday at about $4.5 million, according to DefiLlama data. Its average daily fee pace over the past 30 days now annualizes to about $179 million.
That $179 million needs two adjustments. Robinhood sends about 10% of the network's revenue after costs back to the Arbitrum ecosystem, whose technology the chain runs on. And annualizing the hottest stretch of a two-month-old network is generous math -- the chain's lifetime revenue through the start of this week was only about $10 million, and daily fees that spike may fade just as quickly.
Even with those adjustments, the pace arguably clears $100 million. Zoom out, though, and it amounts to about 2% of Robinhood's revenue pace of roughly $5.2 billion. Big enough to make the list, and far too small to carry the company.
Order flow still supplies a third of revenueHow much of the company still runs on its best-known business, routing customers' stock and options trades to market makers?
In the second quarter, equities produced $129 million of transaction revenue and options $342 million. Together, the two lines produced about 36% of total revenue.
But that share isn't shrinking. A year earlier, the two supplied about a third of revenue as well, and both are still growing. Equities transaction revenue nearly doubled year over year, while options revenue rose 29%.
The diversification is happening elsewhere. Cryptocurrency trading revenue was $160 million a year ago, $134 million in the first quarter, and $100 million in the second -- a steady step down. Meanwhile, event contracts (Robinhood's prediction-markets business) went from $10 million a year ago to $104 million in the first quarter and then $156 million in the latest one, and margin interest nearly doubled to $215 million.
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124.72
Ultimately, the case under this week's upgrades mostly checks out against Robinhood's own disclosures. The valuation is where I hesitate.
After Thursday's jump, shares cost about 43 times the earnings analysts expect the company to generate next year, while brokerage peer Charles Schwab costs about 14 times its own next-year forecast. Of course, some premium is deserved. After all, Schwab isn't growing revenue 32% or adding two new $100 million lines in a single quarter.
However, higher price targets aren't a reason to buy a stock, and neither is a 15% pop. I wouldn't sell a business that keeps adding $100 million lines. But I wouldn't chase the growth stock here, either. I view it as a hold for now.
Piper Sandler očekává, že Robinhoodu s fotbalovou sezonou výrazně porostou tržby z prediction markets. Odhaduje od září do prosince objem 29,7 miliardy kontraktů a tržby kolem 320 milionů USD.
Robinhood could see a sizable boost to its prediction market revenue as football season begins next week, according to a Wednesday note from Piper Sandler.
Earlier this summer, the World Cup paved the way for explosive volume growth in prediction markets, and it suggests strong numbers could show up during football season, according to analyst Patrick Moley.
"Given Kalshi & HOOD's US-centric user base, and the large gap in popularity between Soccer and Football in the US, we view the explosive World Cup volumes as a leading indicator of what's to come -- the NFL/[NCAA Football] season should be a significant catalyst for HOOD's 3Q26 and 4Q26 prediction market revenue," he wrote.
Rothera, which launched in June, is a prediction markets joint venture between Robinhood and Susquehanna. It's a derivatives exchange and clearinghouse that's regulated by the Commodity Futures Trading Commission.
The rosy outlook comes after Robinhood management confirmed Rothera has obtained approval from the CFTC to provide football contracts covering wins and spreads, Piper Sandler said.
To that end, Moley lifted his forecast for Robinhood's 2026 and 2027 earnings per share estimates by 5% and 7%, respectively, and he lifted his price target to $145 from $135, suggesting about 35% upside from Wednesday's close. The analyst also reiterated his overweight rating on the stock.
Step aside, KalshiWhile Robinhood displays Kalshi's markets to its users, Moley estimates roughly 23% of prediction market volume has shifted to Rothera from Kalshi since June.
"Robinhood's shift to Rothera has accelerated the decline in its share of Kalshi's volumes," Moley said in the Wednesday note. "Last year during football season, HOOD users made up between 22% and 30% of all volume traded on Kalshi, a share that has decreased to the mid-single digits behind Kalshi's quest to acquire more of its own users," the analyst wrote.
Between June and August, average monthly prediction market volumes at Robinhood grew 88%, compared to the January to May period, largely because of strong World Cup engagement, Moley added.
To come up with projections for Robinhood's prediction markets revenue in the second half of the year, Piper Sandler used Kalshi as a proxy.
The firm's analysts predict that from September through December, Robinhood users will trade roughly 29.7 billion event contracts and generate around $320 million in revenue, or $960 million annualized.
Football won't be as dominant on KalshiFootball accounted for 42% of Kalshi's total volume in the 2025 season, with the platform generating roughly $14 billion in NFL and NCAAF trading volume, Piper Sandler found.
This time, Moley does not expect football-related contracts on Kalshi to dominate total volume because of the variety of contracts beyond major sports.
"Major sports made up just 54% of Kalshi's mix in August 2026, down sharply from a high of 83% in November 2025," the note said.
Disclosure: CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment.
Robinhood Chain po spuštění překonal 12 miliard USD v objemu na DEX a 150 milionů transakcí. Robinhood také rozšířil Stock Tokens do více než 120 zemí.
Key Takeaways Robinhood Chain topped $12 billion in DEX volume and 150 million transactions shortly after launch.Stock Tokens give eligible users in more than 120 countries round-the-clock exposure to tokenized assets.Robinhood Earn drew over $200 million in deposits as the company expands beyond traditional trading. Robinhood Markets’ (HOOD - Free Report) accelerating push into tokenization could emerge as an important long-term growth catalyst as the company expands beyond its traditional brokerage and crypto-trading businesses. The recent launch of the Robinhood Chain public mainnet marks a significant step toward building a blockchain-based financial ecosystem around tokenized real-world assets.
Built as an Ethereum Layer 2 network using Arbitrum technology, Robinhood Chain is designed to support faster and lower-cost transactions. The company has also expanded Stock Tokens through Robinhood Wallet to eligible users across more than 120 countries, enabling round-the-clock exposure to tokenized assets. These tokens may eventually be used across decentralized-finance applications, including lending and collateral-based services.
Robinhood is also broadening its digital-asset offerings through Robinhood Earn, its decentralized lending product and an expanded suite of perpetual futures in Europe covering crypto, commodities, ETFs and foreign exchange. Early adoption has been encouraging, with Robinhood Chain exceeding $12 billion in decentralized-exchange volume and 150 million transactions shortly after launch. Meanwhile, customers deposited more than $200 million into Robinhood Earn, while international funded customers topped 1 million in the second quarter of 2026.
These initiatives could strengthen customer engagement, expand Robinhood’s addressable market and diversify revenues at a time when crypto transaction revenues have been declining. However, regulatory uncertainty, cybersecurity risks, smart-contract vulnerabilities and uncertain adoption pose key concerns. Successful scaling of Robinhood Chain and Stock Tokens could reduce HOOD’s reliance on traditional trading revenues and support a more diversified long-term growth trajectory.
How are Robinhood’s Peers Diversifying Beyond Trading?Two close peers of HOOD are Charles Schwab (SCHW - Free Report) and Interactive Brokers Group (IBKR - Free Report) .
Schwab has been diversifying beyond trading by expanding into wealth management, banking, lending and advisory services, while enhancing offerings for ultra-high-net-worth and RIA clients. Schwab is also investing in AI-enabled advice and digital banking to deepen client relationships and generate more recurring, less transaction-dependent revenues.
Interactive Brokers is diversifying beyond traditional trading by expanding crypto and stablecoin services, prediction markets, global market access and AI-powered investing tools. Interactive Brokers’ strategy centers on a unified multi-asset platform that deepens client engagement and broadens revenue opportunities across emerging financial products and technologies.
HOOD’s Price Performance, Valuation & Estimate AnalysisOver the past six months, Robinhood shares have jumped 33% compared with the industry’s growth of 19.4%.
Image Source: Zacks Investment Research
HOOD shares are currently trading at a premium to the industry. The company has a 12-month trailing price-to-tangible book (P/TB) of 10.89X compared with the industry average of 3.34X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Robinhood’s 2026 earnings suggests a year-over-year decline of 0.5%. The trend is likely to reverse next year, with earnings expected to jump 31.9%. In the past month, earnings estimates for 2026 and 2027 have been revised higher to $2.04 and $2.69 per share, respectively.
Image Source: Zacks Investment Research
HOOD currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Robinhood Markets HOOD shares rose in premarket trading on Tuesday after Morgan Stanley upgraded the online trading platform to Overweight from Equal-weight and raised its price target to $150 from $124.
The upgrade came even as broader cryptocurrency-related stocks declined, with Coinbase and Strategy trading lower in premarket activity.
Morgan Stanley said Robinhood’s expanding product lineup, stronger customer engagement and growing asset-based revenues could support further growth.
The bank also raised its earnings estimates for the company through 2028.
Robinhood shares gained about 1.4% in premarket trading, while the stock remained down about 7% since the start of the year.
Morgan Stanley’s new $150 price target represents roughly 43% upside from Monday’s closing price. FactSet data showed an average analyst target of nearly $126.
Analysts led by Michael Cyprys said Robinhood’s broader product capabilities are improving the economics of its existing customer base.
“We see increasing evidence that broader product capabilities are improving the economics of HOOD’s installed customer base,” Cyprys wrote.
The bank raised its earnings-per-share estimates for the next three years by 12%, 14% and 15%, respectively.
Morgan Stanley highlighted Robinhood’s ability to generate more revenue from its existing customer base rather than relying primarily on growth in funded accounts.
The company now has 13 business lines generating more than $100 million in annualized revenue, according to the bank.
Prediction markets were identified as a major growth opportunity for Robinhood.
Event contract revenue increased to $156 million in the second quarter from $10 million a year earlier, surpassing revenue generated from equities and cryptocurrency trading.
Morgan Stanley said fewer than 2 million prediction-market users generated the $156 million in second-quarter revenue, highlighting the potential for further customer engagement.
The bank also pointed to Robinhood’s expanding range of products, including retirement accounts, credit cards, advisory services, banking, gold and trust offerings. These products could encourage customers to hold more assets on the platform.
Higher trading activity is another factor supporting the upgrade. Robinhood has introduced features including short selling, futures and desktop trading, which Morgan Stanley said have helped active traders use the platform more frequently.
The analysts noted that the company’s assets per customer had increased 23% year over year, while Gold users held about 4.2 times the average customer’s assets under custody.
Morgan Stanley also sees greater monetization opportunities as Robinhood expands further into market infrastructure.
The company has begun routing prediction-market event contracts through its affiliate exchange, Rothera, giving it more control over the related value chain.
“Notably, our revisions come despite lower crypto forecasts,” the analysts wrote, adding that the upside is increasingly driven by active trading, prediction markets and asset-based revenues.
Morgan Stanley expects Robinhood's revenue to grow at a 23% compound annual growth rate through 2028, reaching $8 billion, about 6% above consensus estimates.
The bank also expects expense discipline to increase EBITDA margins to 53% from 48%.
Potential catalysts include the Sept. 29-30 HOOD Summit, Rothera, perpetual futures, and agentic trading.
The bank’s $150 target is based on a 25-times multiple of its 2031 probability-weighted earnings.
With Morgan Stanley's new target implying 43% upside, HOOD is likely to stay on the radar of investors evaluating online trading platforms.
Robinhood za první pololetí vykázal rekordní tržby ve výši 2,38 mld. USD, meziročně o 24 % více, a EPS vzrostl téměř o 27 % na 1,00 USD. Růst táhly predikční trhy, zatímco tržby z kryptoměn klesly o 43 % na 234 mil. USD.
Key Takeaways Robinhood posted record H1 revenues of $2.38B, up 24%, as EPS climbed nearly 27% to $1.00.HOOD's prediction-market revenues surged to $260M, while crypto revenues fell 43% to $234M.Robinhood trades at 11.4X tangible book, well above the 3.33X industry average, raising valuation risk. Robinhood Markets (HOOD - Free Report) has evolved well beyond its roots as a commission-free stock-trading app. Strong customer engagement, record asset inflows, growing transaction volumes and rapid expansion across prediction markets, credit cards, banking, retirement and wealth management have created multiple growth avenues. This momentum was evident in the first half of 2026, when Robinhood posted record revenues and robust earnings growth.
Much of this optimism is reflected in the stock’s valuation. At $109.76 as of Aug. 27, Robinhood trades at 11.4X trailing 12-month tangible book, well above the industry average of 3.33X.
Robinhood’s P/TB TTM
Image Source: Zacks Investment Research
Also, HOOD stock is expensive compared with its peers – Charles Schwab (SCHW - Free Report) and Interactive Brokers (IBKR - Free Report) . Schwab and Interactive Brokers have a trailing 12-month P/TB of 7.71X and 1.95X, respectively.
Robinhood’s faster growth, younger customer base, digital-first platform and exposure to emerging businesses warrant some premium. Nevertheless, the gap leaves little room for disappointing execution. Investors considering the stock must therefore determine whether the company’s rapidly expanding financial ecosystem can generate enough sustained earnings growth to justify such a steep price.
Strong H1 Results Underpin HOOD’s Growth StoryRobinhood entered the second half of 2026 with substantial momentum. For the first six months of 2026, net revenues increased 24% year over year to a record $2.38 billion. Earnings per share rose nearly 27% to $1.00, while adjusted EBITDA grew 25% to $1.28 billion.
Quarterly Revenue Trend
Image Source: Zacks Investment Research
Trading remained a major growth engine. Transaction-based revenues rose 25% to $1.4 billion. Options revenues increased 19% year over year to $602 million, while equities revenues jumped 73% to $211 million. Prediction-market event contracts emerged as a key growth driver, generating $260 million in revenues compared with just $13 million in the prior-year period. The weak spot was cryptocurrencies, where revenues declined 43% to $234 million.
Importantly, Robinhood's expansion is no longer solely a trading-volume story. As of June 30, 2026, funded customers increased 7% year over year to 28.4 million, Gold subscribers surged 39% to a record 4.8 million and average revenue per user climbed 24% to $187. Total Platform Assets advanced 32% to $369 billion, while Robinhood recorded net deposits of approximately $39.7 billion in the first six months of 2026, including $21.7 billion in the second quarter alone, highlighting sustained customer asset inflows.
Momentum continued into July. Funded customers edged up to 28.5 million, while trailing-12-month net deposits reached $74.9 billion, representing 25% growth rate relative to July 2025 Platform Assets. Such consistent organic inflows indicate that Robinhood is capturing a larger share of customers’ investable assets.
New Businesses Broaden Robinhood’s Growth RunwayAnother reason investors have assigned HOOD a premium valuation is its expanding product ecosystem.
The company now says 13 business lines have reached at least $100 million in annualized revenues. Its Gold Card has crossed 1 million customers, Robinhood Banking held more than $3 billion in deposits at the end of the quarter and Robinhood Strategies had attracted more than 300,000 funded customers and nearly $2 billion in assets. TradePMR's platform had reached $50 billion in assets under management.
Internationally, Robinhood surpassed 1 million funded customers outside the United States and completed its WonderFi acquisition in Canada during the second quarter. Robinhood Singapore received a capital markets services license on July 1, while Robinhood U.K. entered the FCA cryptoasset register on July 31 and launched crypto trading earlier this month. Robinhood Chain also moved to a public mainnet in July, and by Aug. 10, 2026, it had generated more than $18 billion in decentralized-exchange volume and exceeded $840 million in total value locked.
Stock Tokens are available to eligible users in more than 120 countries, while Robinhood Earn had attracted more than $200 million in deposits by July-end. These initiatives broaden Robinhood's geographic reach and crypto use cases. If Robinhood can successfully cross-sell these services, higher customer lifetime values and more recurring revenues could support long-term margin expansion.
Likewise, Interactive Brokers and Schwab have been expanding their product suites aggressively. Interactive Brokers is broadening its product ecosystem beyond traditional stocks and options by expanding into crypto and crypto futures, prediction markets, AI-enabled trading tools and new international markets. This diversification strengthens client engagement while positioning IBKR as a multi-asset, global trading platform.
Meanwhile, Schwab is diversifying beyond brokerage into wealth management, advisory, banking, lending, retirement and asset management. SCHW’s fee-based assets, net interest income and broader financial services reduce commission dependence, support steadier revenues and deepen client relationships.
Robinhood’s Growth Prospects Remain FavorableRobinhood’s long-term earnings picture remains compelling, although near-term growth is expected to moderate after substantial gains in recent years.
The Zacks Consensus Estimate for 2026 revenues is $5.08 billion, implying 13.7% year-over-year growth. On the other hand, earnings are projected to decline 0.5% to $2.04. However, growth is expected to accelerate next year, with revenues likely to jump 25.5% to $6.38 billion and earnings are projected to surge 31.2% to $2.69.
Earnings Estimates
Image Source: Zacks Investment Research
Asset growth, margin lending, prediction markets, Gold adoption, retirement assets, advisory services and international expansion offer meaningful upside to these estimates. Robinhood’s increasing scale could also generate operating leverage if revenues continue expanding faster than expenses.
Robinhood's liquidity position supports reinvestment, acquisitions and shareholder returns while management continues to manage share count. As of June 30, 2026, cash and cash equivalents were $5.4 billion, and corporate cash, investments and stablecoin totaled $5.6 billion. The company also had $4.9 billion of available lines of credit. In June, Robinhood raised $2.2 billion through 0% convertible senior notes due in October 2029. Thus, a solid liquidity position supports its capital distributions.
Though the company doesn’t pay dividends, it has been actively engaged in share repurchases. In March, the board refreshed the share buyback authorization to $1.5 billion, which management expects to complete over roughly the next three years. As of June 30, 2026, roughly $1.37 billion worth of shares remained available for buyback. Given decent liquidity and balance sheet position, the company’s share repurchases will likely be sustainable.
Robinhood: Risks That Should Not Be IgnoredRobinhood remains exposed to trading volumes, cryptocurrency prices and broader investor sentiment. Crypto transaction revenues have been declining for the last few quarters, demonstrating the volatility inherent in this business.
Costs also warrant attention. Operating expenses increased to $1.39 billion in the first half from $1.11 billion. First-half provisions for credit losses climbed to $92 million from $52 million as Robinhood expanded its credit-card operations.
Further, rapid expansion into prediction markets, cryptocurrencies, lending and international markets increases regulatory and execution risks. A slowdown in retail trading activity, weaker market conditions or regulatory restrictions on high-growth businesses could pressure revenues while simultaneously compressing Robinhood’s premium valuation.
Is Robinhood Stock Worth Betting on?Following a solid performance in 2025, Robinhood shares have struggled this year and are down 3% amid the crypto-market downturn against the industry’s growth of 10.7%. Although robust equities, options and prediction market activities have partly cushioned the impact, crypto weakness continues to weigh on investor sentiment.
Also, Robinhood shares have underperformed Schwab and Interactive Brokers over the same time frame.
YTD Price Performance
Image Source: Zacks Investment Research
Robinhood’s underlying growth story remains compelling. Record revenues, robust net deposits, expanding customer assets and a rapidly diversifying product suite suggest that the company has considerable room to grow. New businesses such as prediction markets, Gold, banking, credit cards and advisory services could make revenues more diversified and strengthen customer retention.
However, the stock price already reflects substantial expectations. With HOOD trading at a premium, investors are paying today for considerable future growth. The company must therefore continue delivering strong asset inflows, successful product adoption and above-average earnings expansion to justify its premium.
For growth-oriented investors willing to tolerate considerable volatility, Robinhood remains an intriguing long-term story. However, given its elevated valuation and exposure to market, regulatory and execution risks, investors may find the risk-reward equation more compelling following a meaningful pullback rather than chasing the stock at current premium levels.
At present, HOOD carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Robinhood ve 2. čtvrtletí zvýšil čistý zisk o 48 % na 573 milionů USD a tržby o 32 % na 1,31 miliardy USD. Firma zároveň zvedla počet Gold předplatitelů o 39 % na 4,84 milionu.
A month has gone by since the last earnings report for Robinhood Markets, Inc. (HOOD - Free Report) . Shares have added about 26.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Robinhood Markets due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for Robinhood Markets, Inc. before we dive into how investors and analysts have reacted as of late.
Robinhood Q2 Earnings Beat on Trading & Platform Asset GrowthRobinhood reported second-quarter 2026 earnings of 62 cents per share, beating the Zacks Consensus Estimate of 44 cents by 40.9%. The bottom line increased 48% year over year.
The reported quarter included $129 million, or 14 cents per share, of gains primarily related to the deconsolidation of Robinhood Ventures Fund I. Excluding this, underlying earnings were 48 cents per share.
Strong options, equities and event-contract activity amid heightened volatility led to an increase in transaction-based revenues. Higher net interest revenues (NIR), rising platform assets and a surge in Gold subscribers were tailwinds. However, continued weakness in crypto trading volume and higher operating expenses were the headwinds.
Net income climbed 48% to $573 million.
Revenue Mix BroadensTotal net revenues climbed 32% from a year ago to $1.31 billion. The top line surpassed the consensus mark of $1.26 billion.
NIR increased 9% year over year to $389 million. Growth in interest-earning assets helped offset the impact of lower short-term interest rates and weaker securities-lending activity.
Other revenues climbed 54% to $143 million. The increase reflected Trump Account service revenues and higher Robinhood Gold subscription revenues. The quarter included $25 million of service revenues related to Trump Accounts.
Average revenue per user rose 24% year over year to $187. Robinhood also expanded the number of business lines generating at least $100 million in annualized revenues to 13, with Robinhood Legend and the Credit Card business joining the group.
Trading Revenues AccelerateTransaction-based revenues increased 44% year over year to $776 million. Options revenues rose 29% to $342 million, while equities revenues surged 95% to $129 million. Event-contract revenues jumped more than tenfold to $156 million.
Cryptocurrency revenues remained a weak spot, declining 38% to $100 million. Crypto notional volume totaled $40.4 billion, including $18.3 billion from the Robinhood app and $22.1 billion from Bitstamp. Overall crypto volume fell 39% sequentially.
Trading engagement remained strong elsewhere. Equity notional volume advanced 85% year over year to a record $956 billion, while options contracts traded grew 50% to a record 774 million. Event contracts traded reached a record 13.6 billion.
Customer Assets Reach New HighsFunded Customers increased 7% year over year to 28.4 million, including roughly 300,000 customers added through the WonderFi acquisition. Investment Accounts rose 9% to 29.9 million.
Total Platform Assets advanced 32% to $369 billion, aided by continued net deposits and higher equity valuations. These benefits were partly offset by lower cryptocurrency valuations. Average platform assets per funded customer reached $13,000.
Net deposits totaled a record $21.7 billion, representing a 28% annualized growth rate. Robinhood Retirement assets under custody surged 82% to a record $34.5 billion.
Robinhood Gold subscribers increased 39% year over year and 11% sequentially to 4.84 million. Gold adoption reached 17% of funded customers, up from 13.1% a year earlier. The company noted that roughly 40% of new funded customers enrolled in Gold during the quarter. Annualized Gold subscription revenues reached $216 million.
Other wealth products also gained traction. Robinhood Strategies grew to more than 300,000 funded customers and nearly $2 billion in assets under management. Robinhood Banking ended June with more than $3 billion in deposits from over 240,000 funded customers.
Costs Up on Growth InvestmentsTotal operating expenses increased 33% year over year to $734 million. The increase reflected marketing and growth investments, restructuring charges and expenses related to Trump Accounts and Rothera.
Adjusted operating expenses and share-based compensation rose 23% to $641 million.
Robinhood’s profitability remained solid despite the higher expense base. Adjusted EBITDA increased 35% to $741 million, while the adjusted EBITDA margin improved to 57% from 56% a year earlier.
Share Buyback UpdatesRobinhood continued returning capital to shareholders. The company repurchased $414 million of Class A common stock during the quarter, representing 4.4 million shares at an average price of approximately $94 each. This included $290 million of repurchases tied to its June convertible-notes offering and conducted outside the existing authorization.
Since launching its initial repurchase program in the third quarter of 2024, Robinhood has bought back $1.3 billion, or 27 million shares, at an average price of roughly $47.
2026 OutlookRobinhood lowered and tightened its 2026 adjusted operating expenses and share-based compensation outlook to $2.675-$2.775 billion from the prior range of $2.7-$2.825 billion. The revised forecast reflects efficiency gains that helped fund costs associated with Rothera and WonderFi.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a downward trend in fresh estimates.
VGM ScoresAt this time, Robinhood Markets has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock has a score of F on the value side, putting it in the lowest quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Robinhood Markets has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerRobinhood Markets is part of the Zacks Financial - Investment Bank industry. Over the past month, Interactive Brokers Group, Inc. (IBKR - Free Report) , a stock from the same industry, has gained 6.7%. The company reported its results for the quarter ended June 2026 more than a month ago.
Interactive Brokers reported revenues of $1.88 billion in the last reported quarter, representing a year-over-year change of +27.2%. EPS of $0.69 for the same period compares with $0.51 a year ago.
Interactive Brokers is expected to post earnings of $0.65 per share for the current quarter, representing a year-over-year change of +14%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #1 (Strong Buy) for Interactive Brokers. Also, the stock has a VGM Score of F.
Robinhood za týden vzrostl o 13,2 % díky optimismu kolem Clarity Act a růstu bitcoinu. Podpořily ho i silné výsledky: fundovaní zákazníci stoupli o 7 % na 28,4 milionu a aktiva na platformě o 32 % na 369 miliard USD.
Key Takeaways Robinhood shares rallied 13.2% last week, sharply outperforming the industry's 2.3% decline.HOOD gained as optimism over the Clarity Act and a Bitcoin rally lifted sentiment toward crypto stocks.HOOD's funded customers rose 7% to 28.4 million at Q2-end, while Platform Assets climbed 32% to $369 billion. Shares of Robinhood Markets (HOOD - Free Report) , a leading fintech brokerage firm, rallied 13.2% last week, sharply outperforming the industry, which declined 2.3% over the same period.
One-Week Price Performance
Image Source: Zacks Investment Research
If you observe the price chart, you will see that Robinhood shares took off on Friday, Aug. 21, following a volatile performance over the previous four trading sessions.
What Triggered the Rally in HOOD Stock?The sharp rally in Robinhood shares on Friday was largely driven by renewed optimism surrounding the U.S. cryptocurrency regulatory landscape. President Donald Trump urged Congress to advance the Clarity Act, which seeks to establish clearer rules for digital assets and define oversight responsibilities between the SEC and CFTC. Investors viewed the push as a potential step toward a more accommodating regulatory environment, benefiting crypto-focused platforms such as Robinhood, Coinbase Global (COIN - Free Report) and Circle Internet Group (CRCL - Free Report) .
On Friday, Coinbase Global and Circle Internet gained 8.2% and 5.2%, respectively. Growing optimism over U.S. crypto regulation, particularly the Clarity Act, coupled with a Bitcoin rally, boosted investor sentiment toward COIN and CRCL shares.
The development is particularly significant for Robinhood as the company continues to broaden its presence in digital assets and blockchain-based products. CEO Vlad Tenev has been advocating for tokenized stock trading in the United States, arguing that blockchain-based equities could offer benefits such as round-the-clock trading, real-time settlement and greater asset portability. Robinhood already offers stock-token trading in more than 120 countries, although the service is currently unavailable in the United States.
Investor sentiment was further supported by expectations that the SEC is going to introduce an “innovation exemption” allowing approved platforms to offer tokenized equities domestically. Combined with Robinhood’s expanding crypto ecosystem, including Bitstamp, WonderFi and other blockchain initiatives (Robinhood Chain), greater regulatory clarity will likely unlock additional growth opportunities and strengthen its competitive position in digital finance.
What Next for Robinhood?Though Robinhood stock jumped last week, it is still trading at a loss in the year-to-date time frame. On the other hand, the industry jumped 10.4%. Coinbase Global has lost 17.5%, while Circle Internet shares have gained 10.9% over the same time frame.
YTD Price Performance
Image Source: Zacks Investment Research
Though trading remains a major growth engine, Robinhood’s expansion is no longer solely a trading-volume story. As of June 30, 2026, funded customers increased 7% year over year to 28.4 million, Gold subscribers surged 39% to a record 4.8 million, and average revenue per user climbed 24% to $187. Total Platform Assets advanced 32% to $369 billion, while Robinhood recorded net deposits of approximately $39.7 billion in the first six months of 2026, including $21.7 billion in the second quarter alone, highlighting sustained customer asset inflows.
This combination of customer growth, asset gathering and increased monetization suggests Robinhood is succeeding in capturing a larger share of its customers' financial lives. The company now says 13 business lines have reached at least $100 million in annualized revenues.
As these tools increase engagement while maintaining user trust, HOOD is expected to build recurring use cases around investing, lending, automation and payments rather than relying only on trading activity. These efforts are expected to drive top-line growth. The Zacks Consensus Estimate for HOOD’s 2026 sales indicates a rise of 13.3% on a year-over-year basis, while the estimate for 2027 suggests 25.3% growth.
Sales Estimates
Image Source: Zacks Investment Research
Likewise, analysts are turning bullish on HOOD’s prospects. Though the Zacks Consensus Estimate for HOOD’s 2026 earnings indicates a fall of almost 1% on a year-over-year basis, the estimate for 2027 suggests 30.4% growth. Earnings estimates for both years have been revised higher over the past seven days.
Earnings Estimates
Image Source: Zacks Investment Research
At present, Robinhood carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Akcie Robinhood Markets vzrostly v pátek o 13,70 % po rostoucím optimismu kolem jasnější regulace kryptoměn v USA. Trumpova administrativa tlačí na schválení Clarity Act.
Shares of Robinhood Markets (HOOD +13.70%) jumped on Friday as investors grew more optimistic about the future of the cryptocurrency industry.
Image source: The Motley Fool.
Crypto investors could soon have more clarity The Trump administration is urging Congress to pass the Clarity Act. The bill would help to establish clearer regulations for the crypto industry, thereby making it easier for financial institutions to integrate digital assets into their operations.
The drive to pass the bill comes after President Trump met with the leaders of multiple crypto-related companies on Wednesday. Investors viewed the meeting and Trump's subsequent comments in favor of the Clarity Act as signs that the crypto industry could soon operate in a less restrictive -- and therefore more profitable -- regulatory environment.
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Tokenization could accelerate Robinhood's growth The removal of burdensome regulations could open up new market opportunities for Robinhood and other digital asset trading platforms.
Robinhood CEO Vlad Tenev has set his sights on tokenized stocks, or blockchain tokens that represent shares of real businesses. Tokenization offers benefits such as real-time settlement, 24/7 trading, and greater asset portability.
"It is becoming increasingly clear that we are in the early innings of a global tokenization supercycle," Tenev said in a social media post. "Last year, I called it a freight train that cannot be stopped -- and one that will eat the entire financial system."
Robinhood already offers trading in stock tokens in more than 120 countries, but it's currently unable to do so in the U.S. Tenev believes that needs to change.
"It would be a strange outcome if the rest of the world could build the future of ownership around American assets while Americans themselves were left behind," Tenev said.
Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Robinhood shares surged 11% on Friday as a sharp rally in Bitcoin lifted crypto-related stocks across the market.
Bitcoin was trading near $77,000, up substantially from around $62,800 at the beginning of the week, as investors poured into digital assets following a combination of macroeconomic and policy catalysts.
The move has provided a fresh boost to Robinhood HOOD, whose trading platform allows customers to buy and sell cryptocurrencies alongside stocks and other assets.
Other crypto-linked stocks also advanced sharply. Strategy rose more than 6%, while Coinbase gained about 9% and Circle Internet Group climbed roughly 9%.
The rally follows a turbulent period for risk assets, with markets initially responding positively to a retreat in Treasury yields before a powerful short squeeze accelerated the move in cryptocurrencies.
According to CoinGlass, roughly $2.7 billion in crypto short positions were liquidated, forcing traders who had bet against digital assets to close their positions and adding further buying pressure.
The initial catalyst came from the bond market.
Treasury yields fell sharply on Wednesday after the US Treasury announced plans to double the size of its planned buybacks of longer-dated government debt.
The intervention temporarily eased pressure on risk assets, including cryptocurrencies, which tend to be sensitive to changes in liquidity and borrowing costs.
Max Stuedlein, head of Partnerships at Sygnum APAC, said Bitcoin's rally reflects an alignment of macroeconomic and policy catalysts.
“The Treasury’s decision to double its buybacks of long-dated government debt is aimed at addressing long-term yield concerns, where borrowing costs have been rising on concerns over US debt levels and partial crowding out by debt issuances of hyperscalers,” he said.
The effect has since broadened beyond Bitcoin as investors have moved into crypto-related equities.
The Bitcoin rally is also being supported by renewed demand from US investors.
Spot Bitcoin ETFs attracted $606 million in inflows on Thursday, up from $517 million a day earlier.
Total inflows this week have exceeded $1.6 billion, marking the strongest weekly performance since October last year.
That institutional demand provides a stronger foundation for the rally than short covering alone, although it remains unclear how long the pace of inflows can continue.
For Robinhood, stronger crypto activity can translate into higher transaction revenue.
But the company has increasingly sought to demonstrate that its business is becoming less dependent on cryptocurrency trading.
Crypto accounted for just 12.88% of Robinhood's transaction revenue in the second quarter, down sharply from a peak of 53% in the fourth quarter of 2024.
Layered onto the broader policy catalyst is Robinhood’s push into tokenized equities.
CEO Vlad Tenev published a widely circulated piece on August 18 urging US policymakers to modernize securities laws to allow blockchain-based versions of stocks to trade domestically.
He warned that the US risks falling behind overseas markets, where tokenized equity trading has reached $9 billion in volume in 2026, an increase of more than 800% year to date.
The SEC is also reportedly working on an “innovation exemption” that could allow approved platforms to offer 24/7 trading in tokenized stocks.
Such a framework could give Robinhood a significant regulatory runway for expanding its existing tokenization products.
Analysts remain divided on RobinhoodDespite Friday's jump, Robinhood shares remain down about 8% this year, highlighting the uncertainty surrounding the stock.
Fundstrat Global Advisors co-founder and head of research Tom Lee has reportedly included HOOD among the stocks he expects investors to avoid in 2026.
His cautious stance is notable because Lee has generally been viewed as a strong supporter of the cryptocurrency market.
Other investors disagree.
Kevin Simpson, founder and CIO of Capital Wealth Planning, said he does not share Lee's bearish view.
Robinhood's second-quarter revenue increased 32% year over year to a record $1.3 billion, while earnings per share rose 48% and net deposits reached a record $22 billion.
Simpson acknowledged that the valuation is high but said he remains confident in CEO Vlad Tenev and Robinhood's ability to attract younger investors.
Joseph Terranova of Virtus Investment Partners described Lee's position on Robinhood as "counterintuitive."
Bryn Talkington, managing partner at Requisite Capital Management, also disagrees with Lee, arguing that Robinhood remains closely tied to cryptocurrency and could benefit significantly if the crypto market continues to recover.
Goldman Sachs recently added to the bullish outlook, raising its price target for Robinhood to $123 while maintaining a Buy rating.
The broader analyst consensus remains positive, with an average price target of around $124.73 and an Overweight rating.
Valuation remains the biggest concernThe strongest argument against chasing Robinhood after Friday's rally is its valuation.
The stock trades at a forward non-GAAP price-to-earnings ratio of about 38.3, compared with a sector median of 11.34.
Its trailing non-GAAP P/E is around 38.5, while the GAAP P/E stands at roughly 46.2.
That means investors are already paying a substantial premium for future growth.
Bulls argue that the premium is justified because Robinhood is expanding beyond crypto and building a broader financial platform.
The declining contribution of cryptocurrency to transaction revenue supports that argument.
But a high valuation also leaves the stock vulnerable if growth slows or investor appetite for risk assets weakens.
There are also warning signs within the cryptocurrency market itself.
According to Crispus Nyaga, market analyst at Invezz, Bitcoin's Relative Strength Index has climbed to about 85, its highest level since November 2024.
An RSI above 70 is generally considered overbought, suggesting that the recent rally may have moved too quickly.
That does not necessarily mean Bitcoin must fall immediately, but it increases the risk of profit-taking after such a sharp move.
The bond market presents another potential threat.
US long-term Treasury yields have resumed their climb after the initial impact of the Treasury's buyback announcement faded.
The 30-year yield rose to about 5.246% on Friday, approaching its year-to-date high.
Higher yields can put pressure on speculative assets by making relatively safer fixed-income investments more attractive and tightening financial conditions.
Friday's surge shows how quickly Robinhood can benefit when Bitcoin and broader risk appetite turn higher.
The company's strong operating growth and declining reliance on crypto also give investors a reason to view it as more than a pure cryptocurrency proxy.
But the stock's elevated valuation means expectations are already high.
For now, Bitcoin's momentum, strong ETF inflows and renewed appetite for crypto-related equities are working in Robinhood's favor.
The question is whether those factors can overcome an increasingly overbought cryptocurrency market and renewed pressure from Treasury yields.
