Robinhood and Webull shares fall 4% and 6% respectively amid broader tech selloff and Bitcoin dip below $63,208.
Robinhood (HOOD) and Webull (BULL) stocks declined 4% to $102 and 6% to $7 in midday trading, driven by profit-taking after recent gains of 10%-12%. No company-specific news triggered the drop, which aligns with a risk-off session in broader markets.
The NASDAQ 100 slipped 1.16% intraday, while Bitcoin (BTC) fell 2% to $63,208 over the past 24 hours. Both assets serve as key revenue drivers for retail brokerages, amplifying their sensitivity to market downturns. HOOD and BULL, though not NASDAQ 100 components, trade with high beta to tech sector movements.
The selloff reflects broader macro sentiment, with crypto exposure remaining a critical pressure point for both firms. No immediate rebound signals have emerged as markets digest the pullback.