With very little official new news hitting the wires so far in 2026, US based neobroker Robinhood Markets Inc (NASDAQ:HOOD) has seen its shares move sharply downward over the past month, including yesterday’s (Wednesday Feb 4) 7.4% decline.

Robinhood shares, which were trading above $150 in October and north of $120 as recently as mid January, dipped below $78 for the first time since the first half of 2025 yesterday, before closing at $80.62, as noted down 7.4% on the day. Robinhood is now down 35% over the past month. (And in early morning premarket trading Thursday, Robinhood was changing hands down another 4%, at just above $77).

While some of the concern over Robinhood may be related to the company’s upcoming Q4 and full year 2025 results release expected early next week (Robinhood posted record revenues of $1.27 billion in Q3 2025), the decline in HOOD shares seems to be mirroring what has been a sharp drop in crypto prices, with Bitcoin taking a fall from above $120,000 in October and the $96,000 range in mid January, to under $70,000 currently.

Crypto trading is an important part of Robinhood, with crypto related revenue of $268 million in its most recent quarter (Q3 2025), or about 21% of Robinhood’s total revenues. However that again is revenue from client trading of crypto products, which are likely to be even higher in Q1 2026, given the volatile ride (though mostly downward) that Bitcoin, Ethereum, and other key digital assets have been on so far this year. More volatility usually means more trading activity, which in turn means more revenue for Robinhood.

We’ve reported recently on a similar decline in shares of Israel based online broker eToro, also strong with the crypto trading crowd. Shares of eToro Group Ltd (NASDAQ:ETOR) hit another all-time low yesterday, and at $26.54 are down about 25% in 2026 year-to-date, sitting just above half of their May 2025 IPO price of $52.

There are reports circulating that certain “smart” investors, such as Cathie Wood’s Ark Invest, have been “buying the dip” in Robinhood and other equities more closely tied to crypto (such as Coinbase). But so far, that buying hasn’t slowed the decline in those shares.

For Robinhood watchers, the next few days leading up to Robinhood’s 2025 results release (likely next Tuesday) will be interesting. We’ll keep our eyes open as well. Stay tuned to FNG…