Key Highlights

  • Premarket shares rose 2.33% to $100.41 after Robinhood closed 5.29% higher at $98.12 on June 15.
  • Workforce reductions will affect about 290 employees, based on the company’s year-end headcount of roughly 2,900.
  • Restructuring charges are expected to total about $28 million during the second quarter.
  • June trading activity reached record average daily volumes across equities, options and prediction markets.

Robinhood Markets, Inc. (NASDAQ:HOOD) extended its advance before the June 16 opening bell after announcing plans to reduce its full-time workforce by approximately 10% and remove management layers.

The shares traded near $100.41 in premarket activity, up 2.33% from the previous close. Robinhood gained $4.93, or 5.29%, to finish at $98.12 on June 15 after trading between $97.45 and $100.87.

The workforce reduction is expected to affect roughly 290 employees. Robinhood employed around 2,900 full-time workers at the end of 2025 and will also close a limited number of vacant positions.

The company expects to record approximately $20 million in severance and employee-benefit expenses, alongside about $8 million in share-based compensation costs. The charges are expected to be recognised during the second quarter of 2026.

Robinhood said the restructuring was intended to produce a flatter organisation, increase accountability and improve the speed of product development. The company also reported record month-to-date average daily trading volumes during June across equities, options and prediction markets.

The update followed a strong first-quarter performance. Robinhood reported a 15% increase in quarterly revenue, supported by higher subscription income and trading activity, although cryptocurrency-related volumes remained sensitive to changing market conditions.

The brokerage has expanded beyond commission-free stock and cryptocurrency trading into retirement accounts, credit cards, wealth management and prediction markets. The broader product mix is intended to increase recurring revenue and reduce dependence on transaction volumes.

Robinhood also gained visibility from its participation in the recent SpaceX initial public offering. Eligible customers were able to request shares through the company’s IPO Access service, which allows retail investors to participate in selected offerings before public trading begins.

The June 15 closing price gave Robinhood a market capitalisation of approximately $88.36 billion. The stock traded at about 47.6 times trailing earnings, based on earnings per share of $2.06.

Shares have traded between $63.52 and $153.86 over the past 52 weeks. The latest premarket gain placed the stock above $100 after two consecutive advances.