Robinhood Reports August Metrics: Trading Jumped, Users Plateaued, Crypto Declined

Robinhood Markets, Inc. (Nasdaq: HOOD) announced its operating data for August 2022 on Monday after the bell. The retail exchange saw its net cumulative funded accounts and monthly active users plateau vis-a-vis its July counterparts.

Net cumulative funded accounts for the month came in a 22.9 million, unchanged from July and a marginal increase from August 2021’s 22.4 million. Monthly active users came practically unchanged at 13.3 million compared to July’s 13.2 million, but a decline from 18.7 million in the year-ago period.

However, the company saw the volume of its traded products jump from a month ago: equity trading ending at US$66.0 billion from last month’s US$48.8 billion and options contract trade volume came in at 89.9 million versus last month’s 67.0 million. Both traded products still recorded drops from its year-ago counterparts at US$73.3 billion and 95.4 million, respectively.

But, crypto trading, which recorded the biggest year-on-year drop in July, still recorded the largest annual decline–ending at US$5.3 billion in August 2022 from US$21.8 billion in August 2021. It is also the only traded product that recorded a monthly sequential decline coming from its July 2022 number at US$5.5 billion.

Read: Robinhood Posts Weak July 2022 Operating Metrics, Yet Betting Against the Stock Seems Wrong

Following the release, the firm jumped 3.9% in after-trading hours.

Assets under custody also dropped to US$71.0 billion from US$74.6 billion in July and US$103.5 billion in August 2021.

At the tail-end of August 2022, the trading platform was reported to be one of the firms the Cboe Global Markets, Inc. (Cboe: CBOE) is eyeing as a potential equity partner for its recently acquired digital asset exchange ErisX, later to be renamed Cboe Digital.

Robinhood last traded at US$10.59 on the Nasdaq.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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