Crypto
Robinhood Stock Falls Below $90 Amid Crypto Slump
River of growth and decline for Robinhood in Q2
The brokerage's total net revenue rose 32% to $1.31 billion, exceeding estimates, with transaction-based revenue increasing 44% to $776 million.
Equities revenue nearly doubled, while options revenue advanced 29%, but crypto revenue declined sharply by 38% year over year to $100 million.
The drop in crypto trading weighed on the stock price, which fell below $90 despite a record Q2 revenue for Robinhood.