HOOD Stock at $94: Record Revenue, Crypto Slump, 24/7 Access

Robinhood Markets (NASDAQ: HOOD) closed at $94.38 on August 11, 2026, down 0.15% on the day and roughly 39% below the $153.86 high it set within the last 12 months. That gap is the whole story with HOOD stock right now: the business just printed its best quarter since the IPO, and the share price has been going the other way.

Below is what the Q2 2026 numbers actually changed, why the crypto line no longer drives the stock, where the sell-side landed after the report, and — for traders outside U.S. market hours — how a tokenized version of the same equity trades on-chain, with the liquidity numbers most write-ups leave out.

HOOD stock price and key numbers today

Source: StockAnalysis / S&P Global Market Intelligence, August 11, 2026 close.

Two numbers matter more than the rest. A beta of 2.32 means HOOD stock has historically moved more than twice as hard as the index in both directions — this is not a stock you size like a broker peer. And a 41.8x trailing P/E on a business whose revenue mix just changed shape means the market is paying for growth it has not yet decided is durable.

Why HOOD stock fell after a record quarter

Robinhood reported Q2 2026 on July 29: total net revenue of $1.31 billion, up 32% year over year, net income of $573 million (+48%), diluted EPS of $0.62, $22 billion in net deposits, and about a million funded customers added. Management called it the best quarter since the 2021 IPO. The stock sold off anyway.

The reason was the guidance and the mix, not the headline. Crypto trading revenue fell 38% to $100 million on $40 billion of notional volume, with the number of customers trading crypto down 16% and average trade size down 20%. For a stock that spent 2024 and 2025 being traded as a crypto proxy, a shrinking crypto line plus a tightened full-year outlook was enough to trigger the de-rating — even with everything else accelerating.

Event contracts overtook crypto in Robinhood's revenue mix

This is the structural change that most HOOD stock coverage still under-weights. Transaction revenue rose 44% to $776 million, and the composition inside it flipped:

Event contracts passed crypto for the first time, and management described prediction markets as the fastest-growing business in the company's history — World Cup and election-style markets pulled in volume that crypto used to supply. Robinhood also picked up FCA registration to offer crypto services in the UK in early August 2026, and Robinhood Ventures Fund II (RVII) is scheduled to list on the NYSE on August 13, 2026.

The practical read: HOOD is no longer a clean bitcoin beta. If you were buying the stock to express a crypto view, the correlation you are underwriting has weakened, and prediction-market regulation is now a live headline risk that most crypto-focused holders are not tracking.

Is HOOD stock a buy? What the post-earnings targets say

The sell-side response to Q2 was unusually split, which tells you more than the average target does:

Targets published late July–early August 2026 following the Q2 report.

Note what the table shows: almost everyone kept a constructive rating while cutting the number. That is analysts marking to a lower multiple, not to a broken business. The consensus target of $119.82 implies roughly 27% upside from $94.38, but the dispersion — $103 to $140 among firms that all watched the same quarter — is the honest signal. Nobody has conviction on what a company earning money from options, events, crypto, and a Layer 2 chain should be worth.

How to trade HOOD as a tokenized stock outside market hours

Nasdaq trades HOOD from 9:30 a.m. to 4:00 p.m. ET, and buying it requires a broker that accepts your jurisdiction. Tokenized equities route around both constraints, and Robinhood itself now issues stock tokens to EU users — worth knowing that those are structured as debt securities carrying no shareholder rights.

On the crypto side, Robinhood's own equity trades as HOODB, a bStocks-issued token on BNB Chain (contract 0xa394dcea3fd3847fd793afbfd163e2e3858b7c65). Here is how the two versions compared at the same moment:

WEEX market data read from the HOODB/USDT spot pair on August 12, 2026, 03:20 UTC.

The token was trading about 0.7% above the underlying's after-hours mark — a modest premium, and a reminder that a tokenized stock is priced by its own order book, not by the Nasdaq tape. The volume column is the number to sit with: roughly $3,200 changed hands in 24 hours against about $1.1 billion in the listed shares. That is a venue for a small, patient position, not for size.

If you are working through the mechanics, WEEX's guide to trading U.S. stocks through TradFi products covers the spot-token versus perpetual distinction, and you will need USDT in the account first — the buy-crypto flow handles that step with cards or bank transfer.

What traders usually get wrong with tokenized HOOD

Three traps show up repeatedly, and none of them are about picking the direction.

The first is treating a thin book like a deep one. With a few thousand dollars of daily turnover, a market order sized in the hundreds can walk the book several ticks. Use limits.

The second is assuming the token tracks the stock at all times. It tracks it when arbitrageurs are awake and the issuer's mint-and-redeem process is functioning. Over a U.S. holiday weekend, or during a gap-risk event, the basis can widen well past 0.7% in either direction — and the widest dislocations tend to arrive exactly when you most want to trade.

The third is the rights question. HOODB holders own exposure to Robinhood's price, not Robinhood. No vote, no direct claim on the company, and a dependency on the token issuer's custody and solvency that a Nasdaq share simply does not carry. For a company whose own tokenized products are structured as debt instruments, that irony is worth holding onto.

The bottom line on HOOD stock

HOOD stock at $94 is priced as though the record quarter did not happen, largely because the crypto line — the part of the story the market indexed on — shrank 38% while everything else grew. The bull case is that event contracts, options, and international expansion replace it and then some. The bear case is that a 41.8x multiple on a 2.32-beta business gives you nowhere to hide if retail engagement cools. The dispersion in analyst targets says both readings are live.

For anyone who wants exposure without a U.S. brokerage account or a 9:30 a.m. alarm, the tokenized route is real but shallow — trade it in size that respects a $3,000-a-day book. Open a WEEX account if you want that access, and size the position to the liquidity you can actually see.

FAQ

1. What is HOOD stock trading at right now?

HOOD closed at $94.38 on August 11, 2026, within a 52-week range of $63.52 to $153.86. The tokenized version, HOODB, was quoted at 95.01 USDT on WEEX early on August 12, 2026 (UTC).

2. Why did HOOD stock drop after strong Q2 2026 earnings?

Revenue hit a record $1.31 billion, but crypto trading revenue fell 38% to $100 million and the company tightened its full-year outlook. The market repriced the multiple rather than the business.

3. Is Robinhood still a crypto stock?

Less than it was. Crypto contributed $100 million of Q2 transaction revenue against $342 million from options and $156 million from event contracts, which overtook crypto for the first time.

4. Can I buy HOOD stock 24/7?

Not the Nasdaq-listed share. Tokenized versions such as HOODB trade continuously on crypto venues, though at a fraction of the listed stock's liquidity and with no shareholder rights.

5. What is the analyst price target for HOOD stock?

The consensus among 28 analysts is a Buy rating with an average 12-month target of $119.82, roughly 27% above the August 11, 2026 close. Individual post-earnings targets ranged from $103 to $140.

6. What is the difference between HOOD and HOODB?

HOOD is Robinhood Markets Class A common stock on Nasdaq. HOODB is a bStocks-issued token on BNB Chain that tracks the share price; it offers 24/7 access and fractional sizing but carries issuer and liquidity risk instead of shareholder rights.

Risk Warning

Trading equities, tokenized equities, and crypto assets involves substantial risk, and you may lose part or all of your capital. HOOD carries a beta of 2.32, meaning it has historically moved more sharply than the broader market in both directions, and it trades on a high earnings multiple that can compress quickly on a single guidance change. Tokenized stocks such as HOODB add risks the underlying share does not have: thin order books that produce slippage on modest orders, price basis that can widen away from the reference stock, smart-contract and custody exposure to the token issuer, no voting or shareholder rights, and regulatory uncertainty around tokenized-equity products in several jurisdictions. Prices and market data in this article are dated where cited and will change. Nothing here is investment advice — assess your own circumstances, and never trade with capital you cannot afford to lose.