Robinhood Stock Slides 53% as Crypto Revenue Falls 38%
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- Robinhood's stock fell up to 53% from its October peak, accelerating early this year.
- Robinhood's crypto transaction revenue dropped 38% in Q4 2025 to $221 million, down from $358 million a year earlier.
- Robinhood's options trading became the company's largest source of transaction revenue, overtaking crypto.
- Robinhood's price‑to‑sales ratio stood at 15.9, above its historical average of 11.5 since going public.
- Robinhood's monthly active users averaged 13 million in Q4 2025, a 13% year‑over‑year decline.
- Robinhood's stock would need a further 27% decline to align with its long‑term average P/S ratio.
Why it matters: Shareholders face further losses as the stock would need a 27% drop to match its long‑term average P/S ratio, while the decline in crypto revenue and a 13% fall in active users erode growth, leaving options traders as the only bright spot.
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