Stock Market Today, April 16: Robinhood Slips as Schwab’s Crypto Push Raises New Competition

By Eric Trie – Apr 16, 2026 at 5:39PM ESTExpandNASDAQ: HOODRobinhood MarketsToday's Change(-0.54%) $-0.47Current Price$86.85Key Data PointsMarket Cap$79BDay's Range$83.87 - $89.3852wk Range$39.21 - $153.86Volume52MAvg Vol31MGross Margin94.96%Robinhood Markets (HOOD 0.54%), a commission-free trading platform for stocks, options, and crypto, closed Thursday at $86.85, down 0.54%. The stock moved lower as investors reacted to Charles Schwab’s planned spot crypto trading platform launch while continuing to watch how SEC rule changes reshape Robinhood’s retail trading volumes and revenue mix.The company’s trading volume reached 51.3 million shares, which is about 64% above compared with its three-month average of 31.3 million shares. Robinhood Markets went public in 2021 and has grown 149% since its IPO. How the markets moved todayThe S&P 500 (^GSPC +0.26%) rose 0.23% to 7,041.28, while the Nasdaq Composite (^IXIC +0.36%) added 0.36% to finish at 24,102.7. Within capital markets, industry peers Interactive Brokers Group (IBKR 0.40%) closed at $79.38 (-0.40%) and Charles Schwab (SCHW 7.63%) ended at $92.62 (-7.63%), reflecting pressure after Schwab’s latest crypto push.What this means for investorsRobinhood Markets shares slipped after Charles Schwab outlined plans to launch spot crypto trading for retail clients, introducing a new competitive threat in an area that has helped drive activity and transaction-based revenue on Robinhood’s platform. The development is notable because crypto has been a key driver of user engagement for Robinhood, and increased competition from a larger brokerage could pressure trading volumes and pricing over time.That pressure comes as the regulatory backdrop shifts in Robinhood’s favor following the SEC’s removal of the $25,000 pattern day trader minimum, a change that could expand participation among its core retail users and increase trading frequency. Robinhood’s stock is now influenced by these opposing forces: new crypto competition and regulatory changes that support greater trading activity. The next key indicator investors will be watching for is whether upcoming results show a measurable increase in retail trading volumes after the rule change, or if gains are offset by heightened competition in crypto.Read NextApr 16, 2026 •By Anders BylundBest Crypto Stocks for 2026Apr 15, 2026 •By Josh Kohn-LindquistStock Market Today, April 15: Robinhood Markets Surges After SEC Eases Day Trading RulesApr 15, 2026 •By Neil Rozenbaum4 Growth Stocks Down Bad That Will Bounce Back QuicklyApr 15, 2026 •By Josh Kohn-LindquistWhy Robinhood Markets Stock Is Rocketing Higher TodayApr 10, 2026 •By Reuben Gregg BrewerRobinhood's Risk Profile Could Be Worse Than You ThinkApr 10, 2026 •By Rick OrfordRobinhood Might Miss a Huge Market Moment, but Is the Fear Overdone?About the AuthorEric Trie is a Motley Fool contributing stock analyst covering technology and semiconductors, healthcare, financial services, and consumer sectors. Previously, he worked in investment analysis and financial writing. He holds a B.A. in Philosophy from Rutgers University. Eric lives in New York City and is an avid sports fan.CMFIdeaMachineStocks MentionedRobinhood MarketsNASDAQ: HOOD$86.85(-0.54%)-$0.47Interactive Brokers GroupNASDAQ: IBKR$79.34(-0.45%)-$0.36Charles SchwabNYSE: SCHW$92.66(-7.59%)-$7.61*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.