GameStop Corp., a specialty retailer, provides games and entertainment products through its stores and ecommerce platforms in the United States, Canada, Australia, and Europe. The company sells new and pre-owned gaming platforms; accessories, such as controllers, gaming headsets, and virtual reality products; new and pre-owned gaming software; and in-game digital currency, digital downloadable content, and full-game downloads. It sells collectibles comprising apparel, toys, trading cards, gadgets, and other retail products for pop culture and technology enthusiasts, as well as engages in the digital asset wallet and NFT marketplace activities. The company operates stores and ecommerce sites under the GameStop, EB Games, and Micromania brands; and pop culture themed stores that sell collectibles, apparel, gadgets, electronics, toys, and other retail products under the Zing Pop Culture brand, as well as offers Game Informer magazine, a print and digital gaming publication. The company was formerly known as GSC Holdings Corp. GameStop Corp. was founded in 1996 and is headquartered in Grapevine, Texas.

GameStop Corporation

The NASDAQ 100 Pre-Market Indicator is up 334.92 to 25,693.08. The total Pre-Market volume is currently 366,670,547 shares traded.
The following are the most active stocks for the pre-market session:
Beyond Meat, Inc. (BYND) is -0.095 at $2.09, with 28,119,095 shares traded. BYND's current last sale is 104.5% of the target price of $2.
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.5 at $20.09, with 9,921,518 shares traded. This represents a 219.4% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is -0.52 at $13.44, with 7,364,217 shares traded., following a 52-week high recorded in prior regular session.
Avidity Biosciences, Inc. (RNA) is +21.29 at $70.44, with 5,655,337 shares traded. As reported in the last short interest update the days to cover for RNA is 13.498506; this calculation is based on the average trading volume of the stock.
Bitfarms Ltd. (BITF) is +0.23 at $4.84, with 5,242,901 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
NVIDIA Corporation (NVDA) is +4.14 at $190.40, with 4,492,288 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
NIO Inc. (NIO) is +0.19 at $7.09, with 2,392,655 shares traded. NIO's current last sale is 103.5% of the target price of $6.85.
Grupo Supervielle S.A. (SUPV) is +2.4 at $9.13, with 2,061,605 shares traded. SUPV's current last sale is 110% of the target price of $8.3.
IonQ, Inc. (IONQ) is +2.8002 at $63.10, with 1,252,917 shares traded., following a 52-week high recorded in prior regular session.
GameStop Corporation (GME) is +1.2 at $24.50, with 1,250,543 shares traded.
D-Wave Quantum Inc. (QBTS) is +1.35 at $34.00, with 1,244,853 shares traded., following a 52-week high recorded in prior regular session.
QuantumScape Corporation (QS) is +0.0804 at $16.90, with 1,182,954 shares traded. QS's current last sale is 241.43% of the target price of $7.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 27, 2025 : BYND, TSLL, SQQQ, RNA, BITF, NVDA, NIO, SUPV, IONQ, GME, QBTS, QS

How Investing Has Changed in the Last 5 Years

Key Points
Robinhood's investing platform is a popular destination for young people looking to trade stocks, options, cryptocurrencies, and more.
It recently signed a deal with Kalshi to bring NFL and college football betting markets to its platform, which sent its stock soaring.
Robinhood stock is now trading at a sky-high valuation, which poses a significant downside risk to investors from here.
Robinhood Markets (NASDAQ: HOOD) runs a popular commission-free investing platform where its clients buy and sell stocks, options, cryptocurrencies, and more. It made a name for itself at the height of the pandemic in 2020 and 2021, when troves of young investors used it to trade speculative meme stocks like GameStop, which sent the platform's revenue soaring.
But Robinhood stock has exploded higher by 240% in 2025 for a different reason. In August, the company signed a deal with Kalshi to bring NFL and college football prediction markets to its platform, which could unlock an entirely new revenue stream from new and existing clients.
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This could be a big opportunity in the long run, but early reports suggest prediction markets are still a very small part of the company's overall business.
If that's true, Robinhood stock could suffer a sharp correction after Nov. 5, which is the date the company is scheduled to release its operating results for the third quarter of 2025.
Robinhood's prediction business is still very small
Gamblers can use traditional sports betting platforms to wager on binary outcomes, like the winner of a football game, whereas prediction markets like Kalshi allow customers to trade in and out of contracts (like shares) that represent the likelihood of a specific event, such as political, economic, and cultural outcomes. That means they can cash out at any time with a small profit or a small loss, before the game is over.
According to Grand View Research, the U.S. sports betting industry is worth about $20 billion annually, and it could grow to $33 billion by 2030, so there is a sizable opportunity up for grabs. Robinhood's clients have a median age of 35, and since many of them are drawn to risky cryptocurrencies and financial derivatives like options contracts, the company thinks they will jump at the chance to wager on football and other sports.
However, according to Wall Street firm Piper Sandler, Robinhood's prediction markets generate revenue at an annualized rate of around $200 million right now. Chief Executive Officer Vlad Tenev cited this estimate in an interview with Bloomberg a few weeks ago, so we can consider it fairly accurate.
But since the company is on track to report $4.2 billion in total revenue this year, prediction markets are a small fraction of its overall business, which makes the blistering rally in its stock this year a little hard to justify.
Robinhood's core revenue shrank during the last two quarters
Total quarterly revenue hit a record high of $1 billion in the final three months of 2024. Transaction revenue, which is the money the company generates from processing stock, options, futures, and cryptocurrency trades on behalf of clients, accounted for $672 million of that total.
Zooming in even further, cryptocurrency trading revenue was $358 million of that total transaction revenue. However, it has since plunged by 55%, coming in at just $160 million in the second quarter of 2025. This caused Robinhood's overall transaction revenue to shrink for two consecutive quarters:
The crypto market ended 2024 with a powerful rally following Donald Trump's presidential election win, but its momentum is fading this year. Dogecoin, for instance, is down 59% from its 52-week high, while Shiba Inu is down 70%. Ripple's XRP token has plunged 34% from its recent peak, and even industry leader Bitcoin recently shed 13% of its value.
These losses have pushed many investors to the sidelines, and it isn't the first time. In the second quarter of 2021, Robinhood's crypto revenue surged by 4,560% and accounted for half of its total transaction revenue, before plunging by 75% just one year later in the second quarter of 2022.
That looks awfully similar to the scenario playing out right now, and it suggests there could be more pain to come for Robinhood's crypto business. This is a key trend to monitor when the company reports third-quarter results.
Beware of the sky-high valuation ahead of Nov. 5
In my opinion, the 240% surge in Robinhood stock this year doesn't really make sense, with its main source of revenue shrinking on a sequential basis at the very same time. In fact, these diverging trends have pushed its price-to-sales ratio (P/S) to 33, which is more than triple its average of 10.6 dating back to the company's initial public offering in 2021.
Unless Robinhood finds significantly more revenue in a very short period of time, its stock would have to plummet by 68% from here just to bring its P/S in line with its long-term average. The prediction markets segment doesn't appear to be the silver bullet investors are looking for, given what we know about its revenue so far.
Plus, Kalshi was recently valued at just $5 billion during a private funding round. Since Robinhood's market capitalization is about $113 billion, it's hard to imagine this partnership making a serious impact on the company's financial results in the near term.
In summary, when you combine Robinhood's sky-high valuation with its declining transaction revenue, investors face the risk of a sharp correction in its stock. I think the third-quarter report on Nov. 5 could be the trigger, especially if prediction markets revenue underwhelms, and its crypto revenue declines even further.
Should you invest $1,000 in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $600,550!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,116,616!*
Now, it’s worth noting Stock Advisor’s total average return is 1,032% — a market-crushing outperformance compared to 192% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should You Buy Robinhood Stock Before Nov. 5, or Run for the Hills?

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Meta Platforms Inc (Symbol: META), where a total volume of 340,376 contracts has been traded thus far today, a contract volume which is representative of approximately 34.0 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 281.2% of META's average daily trading volume over the past month, of 12.1 million shares. Particularly high volume was seen for the $740 strike call option expiring October 24, 2025, with 38,682 contracts trading so far today, representing approximately 3.9 million underlying shares of META. Below is a chart showing META's trailing twelve month trading history, with the $740 strike highlighted in orange:
GameStop Corp (Symbol: GME) options are showing a volume of 190,703 contracts thus far today. That number of contracts represents approximately 19.1 million underlying shares, working out to a sizeable 228% of GME's average daily trading volume over the past month, of 8.4 million shares. Especially high volume was seen for the $23.50 strike call option expiring October 24, 2025, with 19,395 contracts trading so far today, representing approximately 1.9 million underlying shares of GME. Below is a chart showing GME's trailing twelve month trading history, with the $23.50 strike highlighted in orange:
And Amazon.com Inc (Symbol: AMZN) saw options trading volume of 737,650 contracts, representing approximately 73.8 million underlying shares or approximately 166.4% of AMZN's average daily trading volume over the past month, of 44.3 million shares. Especially high volume was seen for the $225 strike call option expiring October 24, 2025, with 110,763 contracts trading so far today, representing approximately 11.1 million underlying shares of AMZN. Below is a chart showing AMZN's trailing twelve month trading history, with the $225 strike highlighted in orange:
For the various different available expirations for META options, GME options, or AMZN options, visit StockOptionsChannel.com.
Also see:
PEP Historical PE Ratio
VPN Videos
GKIT Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Friday Option Activity: META, GME, AMZN

Key Points
Ethereum is the face of decentralized finance, powering everything from smart contracts, to NFTs, to stablecoin transactions.
Analyst Geoff Kendrick says increasing institutional adoption and a fluid regulatory landscape will benefit Ethereum in coming years.
Kendrick is forecasting a price target of $25,000 for Ethereum by 2028.
Ethereum (CRYPTO: ETH) is the world's second-largest cryptocurrency by market capitalization, trailing Bitcoin. Unlike Bitcoin, which mainly acts as a digital store of value, Ethereum functions as a decentralized computing platform that supports smart contracts, decentralized applications, and tokenized assets.
Its blockchain underpins much of today's web3 ecosystem -- from non-fungible tokens (NFTs) to stablecoins -- making it one of the most versatile and influential networks in crypto.
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What is Ethereum and why does it matter?
At its core, Ethereum functions as a global, decentralized computer powered by blockchain technology. It allows developers to build applications and execute digital agreements without relying on banks, lawyers, or any centralized authority -- enabling money, assets, and information to move securely and automatically.
The flexibility has made Ethereum the backbone of the modern crypto economy, powering decentralized finance (DeFi) platforms that let users lend, borrow, and earn interest without traditional intermediaries.
Ethereum's network is also becoming more efficient. Its transition to a proof-of-stake consensus mechanism has dramatically reduced energy consumption while allowing users to lock up their coins to earn staking rewards for helping secure the network. The result is a greener, more sustainable ecosystem that appeals to both environmentally conscious and income-seeking investors.
Why Geoff Kendrick thinks Ethereum could reach $25,000 in 2028
According to Standard Chartered analyst Geoff Kendrick, Ethereum could soar to $25,000 by 2028 -- representing a potential gain of more than a 540% from levels as of Oct. 18. Kendrick's bullish outlook rests on several structural tailwinds.
First, Ethereum is rapidly becoming the default settlement layer for stablecoins -- cryptocurrencies pegged to assets like the U.S. dollar. As global adoption of stablecoins accelerates across banks, retailers, and payment networks, demand for Ethereum's infrastructure should rise in lockstep.
Second, the regulatory landscape is gradually turning more favorable. Following the approval of spot Bitcoin exchange-traded funds (ETFs) and plans to establish a U.S. strategic Bitcoin reserve, many analysts expect Ethereum ETFs to be next in line for mass institutional integration. The introduction of regulated investment vehicles could unlock new waves of capital and further cement Ethereum's position as a legitimate asset.
Lastly, institutional interest in Ethereum is expanding through both treasury adoption and infrastructure investment. Fundstrat top investment strategist Tom Lee has suggested that corporations may eventually allocate portions of their balance sheets to Ethereum -- much like how companies such as GameStop and Strategy (formerly MicroStrategy) embraced Bitcoin.
This shift would mark a major step toward mainstream recognition, signaling that Ethereum is not just a speculative asset, but a core component of corporate financial budgeting.
The risks: Volatility and uncharted territory
Even with such compelling upside, investing in Ethereum remains inherently risky. Cryptocurrencies are notoriously volatile, with price swings that can exceed 10% or more in a single day -- often driven by sentiment, liquidity shifts, or narrative-focused headlines rather than fundamentals.
Unlike a public company, Ethereum does not have a management team, earnings reports, or corporate oversight. Investors must rely on open-source governance, where upgrades and policies are the byproduct of a community rather than enforced by a traditional boardroom or regulator.
Ethereum also faces competitive and technical risks. Rival blockchains such as Solana, Avalanche, and Cardano continue to push the boundaries of speed and scalability, threatening to capture developers and users if Ethereum's network upgrades lag behind.
For long-term investors, Ethereum should be viewed as a high-risk, high-reward innovation play -- one that sits at the intersection of finance, technology, and decentralization. If Kendrick's forecast proves correct, Ethereum could redefine what it means to invest in a truly open digital economy. But only those prepared to embrace volatility and uncertainty will be positioned to benefit from the journey.
Should you invest $1,000 in Ethereum right now?
Before you buy stock in Ethereum, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Ethereum wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $646,805!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,123,113!*
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*Stock Advisor returns as of October 20, 2025
Adam Spatacco has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Avalanche, Bitcoin, Ethereum, and Solana. The Motley Fool recommends Standard Chartered Plc. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

1 Top Cryptocurrency to Buy Before It Soars 542% by 2028, According to Wall Street Analyst Geoff Kendrick

Key Points
Bitcoin's role as a store of value -- called digital gold by some -- is embraced by Wall Street and retail investors alike.
Dogecoin's viral nature makes it fun to embrace, but its infinite supply limits long-term value.
Dogecoin is great for entertainment, but Bitcoin remains the top crypto asset for a reason.
During the past decade, Bitcoin (CRYPTO: BTC) has undergone one of the most remarkable image transformations in financial history. What began as an obscure digital currency dismissed by Wall Street veterans has evolved into a legitimate store of value held by corporations, hedge funds, and even sovereign nations.
Back in 2017, BlackRock Chief Executive Officer Larry Fink famously suggested that Bitcoin was little more than a tool for money laundering. Fast forward to today, and BlackRock now offers one of the most popular spot Bitcoin exchange-traded funds (ETFs) -- the iShares Bitcoin Trust ETF.
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So, what changed? After surviving multiple crypto winters, market crashes, and a turbulent regulatory landscape, Bitcoin has proven its resilience and staying power. Even its harshest critics have come to acknowledge its role as a durable asset.
Now, as inflation and fiscal instability continue to erode confidence in fiat currencies, investors are beginning to wonder whether other popular cryptocurrencies -- such as Dogecoin (CRYPTO: DOGE) -- can deliver similar value or if Bitcoin's dominance will remain unchallenged.
Why Bitcoin matters -- and how to invest
Bitcoin's allure stems from its finite supply and decentralized structure. Only 21 million Bitcoins will ever exist -- a hard-coded limit that creates scarcity akin to precious metals like gold or even rare collectibles like art.
Unlike traditional currencies, Bitcoin isn't controlled by any central authority. Its issuance follows algorithmic rules that automatically cut mining rewards in half roughly every four years, ensuring a predictable and slowing rate of supply growth.
For investors, there are several ways to gain exposure to Bitcoin:
Direct purchase: Buying Bitcoin through exchanges such as Coinbase offers full ownership of the asset.
Spot Bitcoin ETFs: These funds provide passive exposure without the need to manage a digital wallet or handle private keys.
Indirect exposure: Public companies such as Coinbase, Robinhood Markets, SoFi Technologies, Strategy (formerly MicroStrategy), and GameStop act as Bitcoin proxies, with their business models or balance sheets tied to broader crypto adoption.
Against this backdrop, Bitcoin has become more accessible to retail and institutional investors alike in recent years -- helping cement its role in the modern digital asset ecosystem.
Dogecoin: Meme coin or the next Bitcoin?
Enter Dogecoin -- a cryptocurrency that began as a parody but evolved into a full-blown cultural phenomenon. Created by software engineers Billy Markus and Jackson Palmer, Dogecoin was initially designed to mock the speculative frenzy surrounding clones to established cryptocurrencies, known as altcoins.
Yet through a combination of viral memes, endorsements (most notably from Elon Musk), and relentless social media enthusiasm, Dogecoin exploded in popularity -- ultimately becoming one of the largest cryptocurrencies by market capitalization.
However, the comparison between Dogecoin and Bitcoin breaks down under closer scrutiny.
Unlike Bitcoin's capped supply, Dogecoin has no maximum limit -- meaning new coins continue to enter circulation indefinitely. This lack of scarcity undermines its value proposition as a long-term store of value.
Additionally, while Bitcoin's network is secured by an extensive global mining infrastructure and developer ecosystem, Dogecoin's community is more niche -- making it less decentralized in nature and therefore more vulnerable to security compromises.
Ultimately, Dogecoin's price movements are driven largely by community sentiment and speculative narratives rather than by real-world adoption or rising utility. Though it functions as a payment token accepted by select merchants, it lacks the institutional demand that has helped Bitcoin rise into a recognized asset on par with the world's largest companies.
The verdict: Dogecoin is fun, but Bitcoin is foundational
So, could Dogecoin ever become the next Bitcoin? Unlikely. Bitcoin has matured into a legitimate macro asset -- serving as both a hedge against inflation and a foundational pillar of the emerging digital financial system. Dogecoin, by contrast, remains largely a meme-driven, speculative coin fueled by hype cycles rather than fundamental economics.
This isn't to say that Dogecoin is worthless. Its vibrant community and viral appeal give it a unique cultural influence within the crypto landscape. However, for long-term investors seeking exposure to the future of decentralized finance (DeFi), Bitcoin remains the gold standard.
Dogecoin may entertain, but Bitcoin endures.
Should you invest $1,000 in Bitcoin right now?
Before you buy stock in Bitcoin, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Bitcoin wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $648,924!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,102,333!*
Now, it’s worth noting Stock Advisor’s total average return is 1,052% — a market-crushing outperformance compared to 190% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 13, 2025
Adam Spatacco has positions in SoFi Technologies. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends BlackRock and Coinbase Global. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Could Dogecoin Be the Next Bitcoin?

The NASDAQ 100 After Hours Indicator is down -11.64 to 25,086.54. The total After hours volume is currently 258,136,041 shares traded.
The following are the most active stocks for the after hours session:
Kenvue Inc. (KVUE) is +0.06 at $16.90, with 2,375,838 shares traded. KVUE's current last sale is 82.44% of the target price of $20.5.
Flagstar Financial, Inc. (FLG) is unchanged at $11.97, with 2,245,910 shares traded. FLG's current last sale is 85.5% of the target price of $14.
GameStop Corporation (GME) is unchanged at $24.07, with 2,010,472 shares traded.
Chipotle Mexican Grill, Inc. (CMG) is +0.11 at $41.00, with 1,562,650 shares traded. As reported by Zacks, the current mean recommendation for CMG is in the "buy range".
IonQ, Inc. (IONQ) is +0.37 at $77.87, with 1,325,972 shares traded., following a 52-week high recorded in today's regular session.
AT&T Inc. (T) is +0.06 at $26.16, with 1,285,813 shares traded. As reported by Zacks, the current mean recommendation for T is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Oct 9, 2025 : KVUE, FLG, GME, CMG, IONQ, T

Key Points
Robinhood recently partnered with Kalshi to launch prediction markets for the NFL and college football.
Robinhood stock was also added to the S&P 500 in September, which drove a flurry of buying from investors and index funds.
Robinhood's brokerage business is showing signs of weakness, which is bad news since its stock is the most expensive it has ever been.
Robinhood Markets (NASDAQ: HOOD) operates one of the most popular investing platforms for young people, allowing them to buy and sell stocks, options, cryptocurrencies, and more. The platform was a haven for highly speculative trading at the height of the pandemic in 2020 and 2021, particularly in meme stocks like GameStop, but Robinhood itself has become a meme-like stock with a staggering 288% gain this year (as of Oct. 7).
It's currently outperforming some of the best artificial intelligence (AI) stocks in 2025, including Nvidia, which is up 38%, and even Palantir Technologies, which has soared by 143%.
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Investors are enthusiastic about Robinhood's recent pivot into NFL and college football prediction markets in partnership with Kalshi. Its stock also received a boost when it was added to the S&P 500 in September. But its business is facing some structural challenges that could disrupt its momentum heading into 2026.
Sports betting is a growing opportunity in the U.S.
Platforms like Kalshi don't offer sports betting in the traditional sense. Instead of placing a wager on a binary outcome, like the winner of a National Football League game, prediction markets allow users to trade in and out of contracts (or shares) that represent the likelihood of a particular event. The odds constantly change based on market activity, which differs from traditional sports betting platforms where a bookmaker can adjust the odds when they need to balance their ledger.
With that said, prediction platforms are certainly trying to eat the sports betting industry's lunch. According to Grand View Research, this could be a $20 billion opportunity in 2025, which will grow to more than $33 billion annually by 2030. Kalshi operates one of the biggest prediction platforms, but the company was recently valued at just $2 billion based on a private funding round, which leaves plenty of room for growth.
The U.S. financial securities brokering industry is about 10 times larger than the sports betting industry, so Robinhood's recent partnership with Kalshi might not sound like a game changer. However, the company could capture a significant share of the budding prediction industry since it's an early entrant, whereas it faces stiff, entrenched competition in the securities brokering space.
Robinhood's core business faces headwinds
Robinhood ended 2024 with a record $672 million in transaction revenue in the fourth quarter, which is the money the company earns from processing stock, option, and cryptocurrency trades for clients. Crypto trading revenue made up more than half of that figure alone, coming in at $358 million.
Unfortunately, crypto revenue fell 55% in the second quarter of 2025, to just $160 million. The sharp decline has dragged Robinhood's total transaction revenue lower on a sequential basis for two straight quarters, even though other important revenue sources like options trading continued to grow.
Many popular cryptocurrencies have declined significantly from their recent peaks, which is pushing many investors onto the sidelines. Dogecoin is down 48% from its 52-week high, Shiba Inu is down by 64%, and even XRP has declined by 21%. This doesn't bode well for Robinhood's crypto trading revenue as we head toward the new year.
Long-term Robinhood investors might be feeling a sense of déjà vu right now. The company's crypto revenue soared by 4,560% year over year during the second quarter of 2021, and accounted for half of its total transaction revenue. But by the second quarter of 2022, its crypto revenue was down by a staggering 75%.
The crypto bust in 2022 contributed to a peak-to-trough collapse in Robinhood stock of more than 90%, which is something for investors to keep in mind.
Robinhood stock is trading at a sky-high valuation
The eye-popping surge in Robinhood's stock price this year doesn't exactly align with the current state of its business, considering its revenue is shrinking sequentially. Robinhood's price-to-sales (P/S) ratio is now more than 37, so this is the most expensive the stock has ever been since it went public in 2021.
In fact, Robinhood's P/S ratio is now about 3.6 times higher than its long-term average of 10.3. The stock would have to decline by more than 70% from here just to return to that average valuation, unless the company generates significant revenue growth in the near future, which doesn't seem likely based on its results in the first half of 2025.
It's possible Robinhood's deal with Kalshi becomes an important source of revenue over the long term, but prediction markets don't appear to be big enough to make a tangible difference to its business just yet.
As a result, I don't think Robinhood stock is a good buy heading into 2026. I actually believe it's more likely to head lower in the short to medium term.
Should you invest $1,000 in Robinhood Markets right now?
Before you buy stock in Robinhood Markets, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Robinhood Markets wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $642,328!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,134,270!*
Now, it’s worth noting Stock Advisor’s total average return is 1,064% — a market-crushing outperformance compared to 191% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 7, 2025
Anthony Di Pizio has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia, Palantir Technologies, and XRP. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Up 288% in 2025, Is Robinhood Stock Still a Buy Heading Into 2026?

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AZZ Inc (Symbol: AZZ), where a total of 1,788 contracts have traded so far, representing approximately 178,800 underlying shares. That amounts to about 68.1% of AZZ's average daily trading volume over the past month of 262,515 shares. Especially high volume was seen for the $115 strike call option expiring October 17, 2025, with 336 contracts trading so far today, representing approximately 33,600 underlying shares of AZZ. Below is a chart showing AZZ's trailing twelve month trading history, with the $115 strike highlighted in orange:
Erasca Inc (Symbol: ERAS) saw options trading volume of 13,976 contracts, representing approximately 1.4 million underlying shares or approximately 65.3% of ERAS's average daily trading volume over the past month, of 2.1 million shares. Particularly high volume was seen for the $2 strike call option expiring January 16, 2026, with 12,813 contracts trading so far today, representing approximately 1.3 million underlying shares of ERAS. Below is a chart showing ERAS's trailing twelve month trading history, with the $2 strike highlighted in orange:
And GameStop Corp (Symbol: GME) options are showing a volume of 71,539 contracts thus far today. That number of contracts represents approximately 7.2 million underlying shares, working out to a sizeable 64.2% of GME's average daily trading volume over the past month, of 11.1 million shares. Especially high volume was seen for the $27 strike call option expiring October 17, 2025, with 9,045 contracts trading so far today, representing approximately 904,500 underlying shares of GME. Below is a chart showing GME's trailing twelve month trading history, with the $27 strike highlighted in orange:
For the various different available expirations for AZZ options, ERAS options, or GME options, visit StockOptionsChannel.com.
Also see:
Business Development Company List
HP Next Dividend Date
Funds Holding CME
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Wednesday Option Activity: AZZ, ERAS, GME

Investors, especially traders, are familiar with Reddit RDDT and have helped increase the social media company’s popularity by engaging in its infamous community-led platforms, such as WallStreetBets, which has been instrumental in creating the meme stock phenomenon.
We can all recount some of the most famous meme stocks that often surge due to heightened popularity on Reddit, with GameStop GME and AMC Entertainment AMC coming to mind.
Over the years, this attention has made Reddit one of the fastest-growing media outlets, given its niche as a destination for meaningful social news aggregation.
Known as the “front page of the internet”, it’s no surprise that Reddit stock has been one of the hottest IPO’s since going public in March of last year, with RDDT now up an exhilarating +300%.
Better still, the call for more upside is starting to be justified as Reddit’s strong user engagement and explosive advertising growth are starting to magnify its future earnings potential.
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Advertising Revenue Boom
Like most social media companies, including giants like Meta Platforms META, Reddit derives the majority of its revenue from advertising, and most recently reported an 84% increase in ad revenue of $465 million during Q2. This was attributed to a 50% increase in active advertisers, with Reddit also posting a 47% spike in average revenue per user (ARPU) at $4.53.
Lifting advertiser interest and its internal operations has been Reddit Pixel, CAPI, and Smarty.io (AI-Powered Automation), which are ad tools that are boosting and integrating user conversion and tracking data. Overall, Reddit’s Q2 sales soared over 77% to $499.63 million.
Notably, Reddit is scheduled to release Q3 results on Tuesday, November 4th, with Zacks projections calling for its top line to expand nearly 58% to $549.69 million compared to $348.35 million in the prior year quarter (Current Qtr below).
More intriguing, Reddit’s annual sales are now expected to climb over 57% in fiscal 2025 and are projected to soar another 34% in FY26 to $2.74 billion.
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Strong User Engagement Metrics
Most compelling about Reddit’s strong user engagement metrics is an expanding global base, as international daily active users (DAU) increased 32% during Q2 to 60.1 million. It’s noteworthy that this drove a more than 70% surge in global revenue, with total DAUs increasing 21% to 110.4 million.
It’s also important to point out that Reddit’s log-out users were at 61.1 million, and are growing faster than its log-in users, suggesting its reach is expanding beyond its core community.
Reddit Surges Past The Profitability Line
Getting to Reddit’s earnings potential, Q2 2025 marked the company’s first profitable quarter despite previously reporting positive earnings per share (EPS) in other quarters. However, in terms of a dollar amount, Reddit’s adjusted net income swung into the black for the first time at $89 million from a loss of $10 million in Q2 2024.
Gross margins also hit a new peak of 90.8%, with Reddit launching a high-margin data licensing business to complement its ad revenue model in which it sells access to vast troves of user-generated content for AI training and analytics.
Furthermore, many analysts predict Reddit will turn an annual net profit of over $150 million this year, compared to a net loss of $484 million in 2024.
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Reddit is projected to post high-double-digit EPS growth for the foreseeable future, with Q2 earnings of $0.45 a share crushing expectations of $0.20 and skyrocketing from an adjusted loss of -$0.06 per share a year ago. Even better is that FY25 and FY26 EPS revisions have trended noticeably higher over the last 90 days.
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RDDT Price Target & Analyst Upgrades
Based on short-term price targets offered by 25 analysts, the current Average Zacks Price Target of $223.72 a share suggests 8% upside for Reddit stock.
That said, RDDT is starting to receive more bullish forecasts based on Reddit's growth trajectory, with JMP Securities and Piper Sandler recently lifting their price targets to street-highs of $300 and $290, respectively.
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Bottom Line
Having an expansive user base, Reddit’s platform is capable of generating lucrative advertising revenue, which is being glorified by better monetization per user. Keeping this in mind, RDDT could have more room to run as Reddit looks poised to grow into its valuation.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.