Stock Market Today, April 16: Robinhood Slips as Schwab’s Crypto Push Raises New Competition
Robinhood Markets (NASDAQ:HOOD), a commission-free trading platform for stocks, options, and crypto, closed Thursday at $86.85, down 0.54%. The stock moved lower as investors reacted to Charles Schwab’s planned spot crypto trading platform launch while continuing to watch how SEC rule changes reshape Robinhood’s retail trading volumes and revenue mix.
The company’s trading volume reached 51.3 million shares, which is about 64% above compared with its three-month average of 31.3 million shares. Robinhood Markets went public in 2021 and has grown 149% since its IPO.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.23% to 7,041.28, while the Nasdaq Composite (NASDAQINDEX:^IXIC) added 0.36% to finish at 24,102.7. Within capital markets, industry peers Interactive Brokers Group (NASDAQ:IBKR) closed at $79.38 (-0.40%) and Charles Schwab (NYSE:SCHW) ended at $92.62 (-7.63%), reflecting pressure after Schwab’s latest crypto push.
What this means for investors
Robinhood Markets shares slipped after Charles Schwab outlined plans to launch spot crypto trading for retail clients, introducing a new competitive threat in an area that has helped drive activity and transaction-based revenue on Robinhood’s platform. The development is notable because crypto has been a key driver of user engagement for Robinhood, and increased competition from a larger brokerage could pressure trading volumes and pricing over time.
That pressure comes as the regulatory backdrop shifts in Robinhood’s favor following the SEC’s removal of the $25,000 pattern day trader minimum, a change that could expand participation among its core retail users and increase trading frequency. Robinhood’s stock is now influenced by these opposing forces: new crypto competition and regulatory changes that support greater trading activity. The next key indicator investors will be watching for is whether upcoming results show a measurable increase in retail trading volumes after the rule change, or if gains are offset by heightened competition in crypto.
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Charles Schwab is an advertising partner of Motley Fool Money. Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Interactive Brokers Group. The Motley Fool recommends Charles Schwab and recommends the following options: long January 2027 $43.75 calls on Interactive Brokers Group, short January 2027 $46.25 calls on Interactive Brokers Group, and short June 2026 $97.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
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