Stock-trading app Robinhood Markets Inc. HOOD, +1.32% on Wednesday said that monthly active users fell in April, and reported a 29% year-over-year drop in stock-trading volumes to $38.9 billion. Crypto volumes sank 47%. Options contracts rose. Monthly active users fell 26% to 11.5 million, while net cumulative funded accounts, or accounts into which users put money or other assets, rose 1% to 23.1 million. Assets under custody fell 1% to $77.4 million. Shares rose 0.4% after hours on Wednesday. The company this month reported first-quarter results that were better than expected, and said the drop in active users for April was typical, as tax season sucks up more customer dollars.
This article was originally published by Marketwatch.com. Read the original article here.
