Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
On June 17, 2026, upbeat analyst calls fueled a sharp rally as investors responded to fresh growth signals.
Stock Market Today, June 17: Robinhood Jumps After Announcing 10% Workforce Reduction, Record June Volumes
Overview
Robinhood Markets (NASDAQ:HOOD), a commission-free retail brokerage and multi-asset investing platform, closed at $105.20, up 8.78%. On Wednesday, the company announced a planned 10% workforce reduction and record June month-to-date volumes, prompting analysts to raise price targets. Trading volume reached 69.9M shares, coming in about 128% above its three-month average of 30.6M shares. Robinhood Markets IPO'd in 2021 and has grown 202% since going public.
The S&P 500 fell 1.19% to 7,422, while the Nasdaq Composite dropped 1.34% to 26,022. Among retail brokerage and fintech financial services peers, Interactive Brokers Group rose 2.14% to $95.09, while The Charles Schwab added 0.90% to $94.51, highlighting a mixed session for brokerage names.
Details
On Wednesday, Robinhood announced it would reduce its headcount by 10%, stating that it “is taking this action from a position of strength.” The company went on to report that June month-to-date volumes were at record levels across equities, options, and prediction markets, lending credence to the notion that the workforce reduction isn’t necessarily a reactive move but rather a proactive one.
Source
Originally published at www.fool.com.
