The Crypto Selloff Is Weighing Down Robinhood Stock, but Bridgewater Is Betting Big

Recently, Robinhood Markets (HOOD) shares took a hit as a selloff in cryptocurrencies rippled through the market. Bitcoin (BTCUSD) and other coins slumped as Bitcoin briefly touched $98.4K on Nov. 13, and HOOD stock slid about 10% on the same day. Still, big players are not giving up on Robinhood. Hedge fund Bridgewater Associates disclosed that it opened a new $115.6 million position in Robinhood in Q3. The timing is notable: Bridgewater’s buy contrasts with the recent volatility. That move tells you two things at once: big-money managers see value buried under the short-term crypto slump, and they’re willing to back Robinhood’s comeback story. Despite near-term headwinds, Robinhood still owns a huge branded user base, growing non-crypto revenue streams, and the kind of retail distribution others envy.

If Bridgewater’s sniff test matters to you, HOOD looks like a beaten-down growth play that could rebound as markets normalize and the company monetizes its audience more effectively.