New York, June 20, 2026, 15:02 EDT
- Robinhood finished Thursday at $108.15, up roughly 16% from where it ended June 12, just before Nasdaq closed Friday for Juneteenth.
- Robinhood is looking to reduce its full-time headcount by around 10% and expects to take a roughly $28 million hit from restructuring charges in the second quarter.
- Charles Schwab is teaming up with Cboe to push into S&P 500-linked yes-or-no contracts, according to Reuters. The move comes as more prediction-style products are hitting the market.
Robinhood Markets shares are up sharply into the new week. Investors see the company’s planned 10% cut to staff as a sign of tighter cost control, not distress, following stronger activity on the platform.
HOOD finished Thursday’s session at $108.15, gaining 2.8% on the day. The stock is now up about 16% from its June 12 close of $93.19. That trading week was cut short for the Juneteenth holiday. Nasdaq stayed closed Friday, with normal trading expected back on Monday unless there’s another market issue.
Robinhood wants Wall Street to see it as more than a retail trading play. The first quarter didn’t help: Reuters said in April that slumping transaction revenue and softer take rates on options and crypto trading meant Robinhood missed profit forecasts.
Robinhood’s new filing provided more detail for investors. The company said it plans to cut about 10% of full-time jobs and a few open roles. Robinhood expects to take about $20 million in severance and benefits costs and $8 million in share-based comp, both hitting in the second quarter.
Robinhood reported that June month-to-date average daily trading volumes (ADVs) hit records in equities, options, and prediction markets. The company describes prediction-market event contracts as financial bets on yes-or-no outcomes, with a correct answer paying $1 and a wrong one paying $0.
Chief Executive Vlad Tenev told staff the business “has never been stronger,” according to Reuters, but said Robinhood still needs to be a “lean, hyper-focused team.” Devin Ryan, analyst at Citizens JMP Securities, said tech was helping Robinhood run with a “flatter, more productive structure.” Reuters
Robinhood reported 27.7 million funded accounts as of the end of May, with $377 billion in assets on the platform and $5.6 billion in net deposits during May. Trading volumes ticked higher. Equity notional trading grew 27% from April to $315 billion, and event contracts traded climbed 22% to 3.9 billion.
Stocks rallied Thursday. The S&P 500 climbed 1.1%, while the Nasdaq composite put on 1.9% and the Russell 2000 gained 2.1%. High-growth and trading-driven names benefited from the move as markets headed into the long weekend.
Schwab is teaming up with Cboe Global Markets on all-or-nothing S&P 500 options, Reuters reported Friday. That partnership would bring a big player further into a market where Robinhood has been active. Reuters also said Robinhood and Interactive Brokers have launched event contracts in recent months.
Traders already seem to be betting on more good news. In its filing, Robinhood pointed to risks tied to layoffs, saying there could be legal, reputational and financial issues, as well as possible disruption to normal operations. Any slide in crypto trades, less retail action, or tougher competition around event contracts could challenge the new outlook on HOOD. Investors may start to see it again as just a trading app with fewer staff, not a tighter growth play.
