Robinhood Shares Fall Thursday, Crypto Policy Summit Lifts Sentiment but Fails to Reverse Decline

Robinhood Markets Inc. shares traded lower on Thursday, reversing a pre-market gain of 5.77% to $101.30. The Nasdaq fell 0.56%, and the S&P 500 dropped 0.37%.

The move followed a White House crypto policy summit on Wednesday. The stock also drew attention on X due to a CNBC panel discussion involving Tom Lee, who recently listed HOOD as a stock to avoid in 2026.

Lee is a well-known Wall Street macro strategist and co-founder of Fundstrat Global Advisors, frequently appearing as a financial commentator known for his generally bullish market outlook, particularly on Ethereum. He also serves as chairman of Bitmine Immersion Technologies.

Crypto Policy Summit Boosts Sentiment

On Thursday, cryptocurrency-related stocks gained momentum following policy updates from the White House summit. The meeting included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from Coinbase Global Inc, Robinhood, Ripple, and Kalshi.

Trump Pushes Legislative Progress

President Donald Trump reiterated his commitment to U.S. leadership in cryptocurrency and urged Congress to pass the CLARITY Act, legislation aimed at establishing regulatory standards for digital assets.

Tom Lee's Avoid Call Sparks Debate

On X, user Dr. Crossroads questioned the recommendation, citing factors such as the expected end of the crypto winter, market forecasts, and Robinhood's international expansion.

Fundstrat's global technology strategy head Mark Newton clarified that HOOD's ranking was based on monthly technical analysis, not a recommendation to short or avoid the stock.

"The bottom 5 stocks are not 'shorts' or 'avoids,'" Newton said, adding that HOOD's chart is in a consolidation phase and its fundamentals may take time to play out.

"Each month we review the entire list and create top 5 and bottom 5 — the bottom 5 are not 'shorts' or 'avoids'... but technically, most of these charts are in significant consolidation, and fundamentals need time to clarify..."

— Mark Newton CMT, August 20, 2026

Robinhood share price action: As of Thursday's press time, Robinhood Markets stock was down 1.32% at $94.51.