Robinhood shares fall after August metrics show mixed trading activity

  • Robinhood reported August operating metrics after record quarterly results.
  • Platform assets reached $384 billion, up 8% monthly and 26% annually.
  • Event contracts totaled 4.7 billion units, down 23% from July.

Robinhood Markets Inc. reported 28.6 million funded customers and $384 billion in platform assets at the end of August. Net deposits reached $4 billion, while equity trading rose 68% year over year to $335 billion. Cryptocurrency-related trading climbed 61% from July to $17.5 billion but fell 38% year over year. Event contracts totaled 4.7 billion units, down 23% from July but roughly 15 times higher than a year earlier. The decline in event-contract activity may raise concerns about customer interest and competition in prediction markets (markets based on outcomes of future events). Robinhood shares were down 1% at $112.35 in after-hours trading Thursday, compared with a 52-week range of $63.52 to $153.86.

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Robinhood shares fall after August metrics show mixed trading activity - CoinPost Terminal