NEW YORK, December 31, 2025, 16:50 ET — After-hours
Robinhood Markets, Inc. (Nasdaq: HOOD) shares fell about 2% on Wednesday and were last down 2.1% at $113.10 in after-hours trading, after moving between $112.50 and $115.90 during the session.
The move keeps attention on late-quarter trading activity at the retail brokerage as investors look for clues on how the fourth quarter finished across crypto, options and equities.
That matters now because Robinhood’s transaction revenue — the money it generates from customer trades — can swing sharply with changes in trading volumes, especially in crypto and options.
Robinhood said on Tuesday that from Dec. 1 through Dec. 28, equity notional trading volumes — the dollar value of shares traded — were about $170 billion, while options contracts traded were about 179 million, with each contract typically representing 100 shares. Crypto notional trading volumes were about $19 billion, including about $7 billion on the Robinhood app and $12 billion on Bitstamp, and event contracts traded on its prediction markets hub totaled about 2.6 billion. The company said the figures are unaudited and preliminary, with full December operating data to be released alongside its full-year and fourth-quarter results.
Barclays analyst Benjamin Budish said the preliminary December metrics suggest Robinhood’s transaction revenue could “slightly miss estimates in Q4.” He said options and Bitstamp activity picked back up, but equities and Robinhood-app crypto volumes softened; Barclays kept an Overweight rating and a $171 price target. TipRanks
Robinhood’s decline came as Wall Street ended 2025 lower in the year’s final session, with the S&P 500 down 0.74% and the Nasdaq off 0.76% in thin holiday-week trading, a Reuters market report said.
Crypto-linked names were also under pressure, with bitcoin down about 0.6% on the day and crypto exchange Coinbase down about 2.4% in after-hours trading.
Robinhood has been expanding its prediction markets offering — including sports-focused event contracts — as rivals push into the fast-growing category, Reuters reported earlier this month.
Investors will now watch whether equities and Robinhood-app crypto volumes rebound after the holidays, and whether prediction markets and options activity can cushion any continued softness in digital-asset trading.
With U.S. markets closed Thursday for New Year’s Day, the next major catalyst is likely Robinhood’s full fourth-quarter earnings report and outlook for 2026, when investors will get the final December numbers and management’s take on trading momentum.
