Robinhood Shares Drop 8% as November Trading Volumes Decline Across Crypto and Equities
Robinhood Markets saw its shares tumble 8% after reporting broad-based declines in trading activity for November. The online brokerage's crypto volumes fell 12% month-over-month to $28.6 billion, extending a 19% year-over-year drop. Equity trading mirrored the trend with a 37% monthly decrease, though remained elevated compared to 2022 levels.
The cooling activity comes despite Robinhood's stock maintaining a 216% year-to-date gain. Platform assets dipped 5% to $325 billion, signaling potential softening in retail investor participation. Bitstamp, the crypto exchange Robinhood is acquiring, saw volumes slip 11% during the period.
Market observers note the declines contrast with last year's post-election crypto surge. The pullback spans both traditional and digital asset markets, suggesting broader risk appetite shifts rather than platform-specific issues.
