Robinhood just posted record numbers in its newest business while watching two of its biggest revenue engines sputter at the same time, and the stock is paying the price as rival platforms shrug off the quarter entirely.
A quarter of records in its newest businesses isn’t lifting Robinhood Markets (NASDAQ:HOOD | HOOD Price Prediction), because its oldest pressure points, crypto and interest income, gave way while fellow trading platforms hold steady. Robinhood stock is at $88 in morning trading, down 7%.
Interactive Brokers Group (NASDAQ:IBKR) stock is at $83, up 2%. Webull (NASDAQ:BULL) stock is at $5.60, up 0.2%, which suggests the pressure is specific to Robinhood.
