Heard on the Street: The stock-trading frenzy seems to be calming for some Robinhood customers. The same comedown could happen to its shareholders.
This column is part of the Heard on the Street stock-picking contest. You’re invited toThe stock-trading frenzy seems to be calming down for some of Robinhood Markets ’ customers. The same comedown could happen to its shareholders at current prices., Robinhood’s stock-trading activity is no longer surging.
In effect, the average funded account traded stocks roughly half as often in the second quarter as it did in the first quarter, or in the second quarter of last year. Equities transaction-based revenue was down from $71 million in the second quarter a year ago to $52 million. For now, though, cryptocurrency is making up for that. Not only did customers trade crypto more often in the second quarter, but it also generated a lot more revenue per trade than in the past. Crypto transaction revenue was $5 million in the second quarter of 2020 and exploded to $233 million a year later.
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