On September 15, Robinhood fell 3.19% in pre-market trading, trading at $110.64 per share, with turnover of approximately $5.88 million. The stock has been under sustained selling pressure since the company published its August operating data.
According to the latest disclosure, Robinhood reported 28.6 million funded accounts as of the end of August, representing a year-over-year increase of 1.9 million. Despite the continued user base expansion, the market reacted negatively, with shares initially declining 1.07% in after-hours trading to $112.12 on the day of the data release, and weakness has persisted into the current session.
The selloff comes amid mixed signals. On one hand, multiple Wall Street firms have recently raised their price targets — Goldman Sachs to $142, Mizuho to $140, Piper Sandler to $145, and Morgan Stanley upgraded the stock to Overweight with a $150 target. On the other hand, options market activity has shown bearish positioning, including a $3.2 million bear call spread and a $2.69 million out-of-the-money put purchase, suggesting institutional caution about near-term upside. Additionally, insider sales totaling over $4.16 million by senior executives were disclosed earlier this month.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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