MarketBeat
5 min read
Key Points
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Robinhood recorded its highest-ever equity trading day, surpassing prior peaks from 2020 and 2021. Customers have often bought after market declines, though the company’s brokerage chief said he could not predict how they would respond to a prolonged downturn.
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The company is investing in prediction markets and agentic trading: non-sports prediction activity has doubled, and more than 200,000 customers use agentic capabilities, though it is too early to know whether their higher engagement will persist.
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Robinhood is also targeting growth through wealth management and international expansion. It has more than 28 million customers, average account balances of about $15,000, and said October was its third-best month for deposits.
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Robinhood Stock Is Down Nearly 37%—So Why Is Wall Street Still So Bullish?
Robinhood Markets (NASDAQ:HOOD) recorded its highest-ever equity trading day on the Thursday preceding a Wolfe Research event, Chief Brokerage Officer Steve Quirk said, as he outlined growth opportunities in prediction markets, agentic trading and wealth management.
Quirk said trading on the record day significantly exceeded the company’s previous high, including levels reached during 2020 and 2021. He described Robinhood customers’ behavior during volatile markets as “cautiously aggressive,” saying they have often bought stocks after declines.
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With the average customer in their 30s, Quirk said many have a longer investment horizon than customers at some established brokerages. He cautioned, however, that he could not predict how Robinhood users would respond to a prolonged market downturn.
Prediction markets and agentic trading
Quirk identified prediction markets, agentic trading and wealth management as newer areas receiving particular attention and resources. Sports have dominated prediction-market activity, he said, but he expects non-sports contracts to be a significant source of growth.
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He pointed to contracts tied to economic indicators and company key performance indicators as potential areas of interest. Quirk also said the company’s non-sports activity had doubled, without specifying a time frame or baseline.
