New York, March 3, 2026, 14:09 ET — Regular session
- Robinhood shares fall about 2% as U.S. stocks slide and crypto dips
- TradePMR unit starts pilot “Robinhood Advisor Network,” with broader rollout expected in Q2
- Traders look to March 4 “Take Flight” event for the next catalyst
Shares of Robinhood Markets, Inc. (NASDAQ: HOOD) were down about 1.9% at $77.30 in afternoon trading on Tuesday, after swinging between $72.26 and $77.39 earlier in the session. The S&P 500 ETF SPY was off about 0.7%, while bitcoin edged lower.
The move matters now because Robinhood sits in the middle of two fast-changing currents: risk appetite in equities and the day-to-day pulse of crypto. When that mix turns sour, the stock can drop quickly.
At the same time, the company is trying to show it can be more than a trading app. A wealth push and a product keynote are both landing as markets turn jumpier again.
The broader tape has been pressured after a flare-up in Middle East tensions pushed oil prices higher and revived inflation worries, prompting investors to cut exposure to risk assets. 1
On Monday, Robinhood and its TradePMR unit said they have started a pilot of the Robinhood Advisor Network, an in-app marketplace that connects eligible customers to independent registered investment advisers, or RIAs — wealth managers registered with the SEC. The pilot is limited to eligible Robinhood employees with at least $250,000 in investable assets, with a broader launch expected in the second quarter. 2
The program will only be available to advisory firms with at least $500 million in assets and a relationship with TradePMR, Wealth Management reported. RIAs will pay Robinhood Asset Management 25% of gross revenue tied to referrals, the publication said, citing a regulatory filing. Robinhood said the pilot is “intentionally limited,” and TradePMR’s Robb Baldwin told the outlet, “As those clients inherit wealth, they’re going to need advice.” 3
At a Citizens technology conference on Monday, Robinhood Chief Financial Officer Shiv Verma pointed to strong customer inflows as the company’s key measure. “We saw over $5.5 billion of Net Deposits in February alone,” he said, referring to customer inflows minus withdrawals. 4
Investors are also watching for headlines from “Robinhood Presents: Take Flight,” a keynote event scheduled for Wednesday, March 4 at 7:30 p.m. ET. The company has said CEO Vlad Tenev and other executives will outline new products, livestreamed from the TWA Hotel at JFK Airport. 5
For traders, the immediate question is whether the product slate shows clear revenue paths beyond trading — and whether the company can pull more higher-balance clients into longer-term services. The advisor-network rollout is another test of that pitch, but it will take time to scale.
There are risks either way. The referral pilot is small and the company has not put a number on how many customers clear the $250,000 threshold, while market volatility can swamp company news for days at a time. And any new wealth features still have to clear the usual hurdles — compliance, pricing, and whether customers actually stick around.
The next clear catalyst is the March 4 “Take Flight” event. Traders will be watching for concrete product details and timelines, then for signs in subsequent updates that Robinhood can turn those announcements into steady deposits and stickier assets.
