Stock Market Today, April 15: Robinhood Markets Surges After SEC Eases Day Trading Rules
Robinhood Markets (NASDAQ:HOOD), a commission-free trading platform for stocks and crypto, closed at $87.32, up 10.41% Wednesday. Shares are surging after the SEC eased regulations on its day-trading rules. Investors await upcoming May earnings and are looking for traction in newer prediction markets and banking products. Trading volume reached 68.5 million shares, about 123% above its three-month average of 30.7 million shares. Robinhood Markets IPO'd in 2021 and has grown 151% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) advanced 0.79% to 7,023, while the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 1.59% to finish at 24,016. Within capital markets, industry peers Charles Schwab (NYSE:SCHW) closed at $100.27, up 1.92%, and Interactive Brokers Group (NASDAQ:IBKR) ended at $79.69, gaining 3.36%.
What this means for investors
Tuesday evening, the Securities and Exchange Commission scrapped regulations that previously required traders to hold a $25,000 margin account to be eligible to day trade -- or make four or more intraday trades within a five-day window. Since Robinhood primarily serves smaller retail investors, this change could help increase the company’s trading activity, which is why the stock rose on the news today.
This regulatory easing could also drive new deposits to Robinhood’s platform and members to its Gold subscription offering, as new day traders enter the fold. That said, while the news is probably good for Robinhood’s financials over the short term, day trading isn’t a Foolish investing strategy and may harm more Robinhood users than it benefits over the long haul.
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Charles Schwab is an advertising partner of Motley Fool Money. Josh Kohn-Lindquist has positions in Robinhood Markets. 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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