Robinhood shares dip after brief boost from extended trading plan

Shares in consumer investment app Robinhood dipped as markets opened this morning, reversing some of yesterday's gains that followed news it's extending equities trading hours.

In a step toward enabling 24/7 investment in stock markets, the public fintech firm announced on Tuesday that it would extend morning and evening trading hours — to 7am from 9am and from 6pm to 8pm, respectively.


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This means users will be able to trade equities a total of four hours longer than previously — news that made shares in the investment app leap by more than 25%. Yesterday, it began the day by changing hands at $13.23, surging to a high of $16.45 at 1 pm in New York. 

As the Nasdaq opened this morning, however, the stock has tumbled to a price around the $15 mark at the time of writing. This could suggest that yesterday's share price rise was a momentary boost rather than a sign of sustained recovery. 

The gyrations come amid news that Christine Brown, a key crypto executive at the trading app, is leaving to found a crypto startup. It's also not the first time that Robinhood shares have experienced volatility in the public markets. After a disappointing fourth-quarter earnings report in January, its shares slipped to a low of below the $10 mark. 

About Author

Tom is a deals reporter at The Block covering venture capital, fundraises, fintech and M&A. Before joining, he was an editorial intern at the FT-backed platform Sifted where he reported on neobanks, payment firms and blockchain startups. You can reach him by email at [email protected] or Telegram @tommatsuda.