New York, Feb 13, 2026, 07:53 EST — Premarket
- HOOD picked up roughly 1.3% in the morning session, bouncing after nearly 9% losses over two consecutive days this week.
- Crypto-linked revenue came in below forecasts last quarter, leaving investors still mulling the results.
- Traders have their eyes on bitcoin’s swings and are tracking if platform activity into early 2026 keeps pace.
Robinhood Markets shares edged up 1.3% in premarket hours Friday, attempting to regain their footing after a steep two-day slide that dragged the retail broker away from its recent peaks.
Robinhood’s rebound is drawing attention, with the stock behaving more like a stand-in for crypto these days—even though crypto represents just part of its business. The action’s been sharp enough to leave investors questioning what they’re actually getting with HOOD.
The stock slid another 8.8% Thursday, after its 8.9% tumble a day earlier. That stacks up to a double-digit loss across just two sessions.
Robinhood shares reacted after the company’s quarterly report this week, where revenue came in below Wall Street estimates, with crypto trading momentum fading. Still, activity in equities and options held up.
CFO Shiv Verma noted that heavy crypto traders “are on the lower tier” when it comes to the company’s pricing, adding, “the active traders were still really active.” That combination, he said, ended up putting more pressure on rebates than some had anticipated. Reuters
Robinhood’s fourth-quarter net revenue landed at $1.28 billion, up 27%, according to its earnings release. Crypto transaction revenue slid 38% to $221 million. The company counted 4.2 million Gold subscribers and projected 2026 adjusted operating expenses plus share-based compensation will range from $2.6 billion to $2.725 billion.
The company’s core trading app isn’t the sole focus anymore—it’s moving into prediction markets and rolling out new products, aiming to steady the retail trading cycle’s sharp swings.
The pace of that diversification is up for debate. Robinhood’s stock has been trading almost in sync with bitcoin lately, MarketWatch points out—even though crypto only accounts for a smaller slice of its quarterly revenue.
Risk appetite’s showing up elsewhere, too. U.S. stock futures dipped a bit in early Friday trading, with bitcoin heading higher — a setup that tends to sway Robinhood moods on a dime.
Bulls face a clear problem here—should digital-asset prices and trading volumes continue to fall, Robinhood’s crypto revenue remains vulnerable. And with the stock moving in lockstep with bitcoin, shares might swing even if equities and options tell a different story.
Friday’s premarket bounce faces a test at the 9:30 a.m. ET open, with traders also eyeing crypto for any signs of the volatility that’s kept the stock tracking bitcoin above all else lately.
