Robinhood shares fall 2.83% as traders weigh Senate crypto vote

  • Robinhood shares declined as investors evaluated the Senate's digital asset legislation vote.
  • HOOD fell 2.83% to $111.12, according to Benzinga Pro data.
  • Robinhood's August platform assets reached $384 billion, supported by $4 billion in net deposits.

Robinhood Markets shares fell 2.83% to $111.12 on Tuesday as investors took profits after a rally tied to a revised draft of the CLARITY Act and assessed whether Senate Republicans can secure enough Democratic support for a 2:15 p.m. ET procedural cloture vote. Republicans hold 53 Senate seats and need at least seven Democratic votes to reach the 60-vote threshold for advancing the digital asset market-structure framework. The pullback followed Robinhood's deal with Crypto.com to add event contracts to its prediction-markets hub, alongside an equity stake in the crypto exchange, and its first investment-banking syndicate role as an underwriter for Oura's planned IPO, which seeks a valuation above $16 billion. Robinhood's August figures showed $384 billion in platform assets, 28.6 million funded customers, $4 billion in net deposits and sharp gains in equity, crypto and event-contract trading. Despite the decline, the stock remained above its 20-day, 50-day and 200-day simple moving averages, while an RSI of 52.11 pointed to relatively balanced momentum.

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