Robinhood Markets Inc (NASDAQ:HOOD) shares are trading lower on above-average volume Tuesday.
Robinhood's average session volume over a 100-day period is about 20.5 million, according to data from Benzinga Pro. Tuesday's trading volume has already exceeded 26 million at publication time.
U.S. Securities and Exchange Commission chair Gary Gensler is set to speak at Piper Sandler's "Global Exchange & Brokerage Conference" on Wednesday.
According to a Wall Street Journal report, Gensler is expected to propose new plans that would change the way retail investors' orders are routed.
Related Link: SEC Chair Gensler Could Restrict Payment For Order Flow This Week: What Investors Need To Know
In the first quarter, Robinhood generated more than 70% of its revenue from payment for order flow.
Robinhood aims to democratize finance for all via its modern financial services platform.
HOOD Price Action: Robinhood has a 52-week high of $85 and a 52-week low of $7.71.
The stock was down 5.21% at $8.64 at time of publication.
Photo: courtesy of Robinhood.
