On September 4, Robinhood fell 3.05% in regular trading, trading at $120.77/share, with turnover of $633 million. The decline was primarily triggered by AMC Entertainment CEO Adam Aron publicly criticizing Robinhood's newly launched tokenized AMC shares.

Aron labeled the practice as \"contemptible\" and \"outrageous,\" stating that AMC had no connection to the token and that the stock tokens are not registered under US securities laws. AMC's outside securities counsel will investigate the matter. When Robinhood CEO Vlad Tenev responded asking what the concern was, Aron said \"the list of concerns is almost existential,\" questioning how Robinhood could operate the tokenized product from Jersey and market a security resembling AMC shares without complying with US securities laws. Notably, Robinhood Chain had previously encountered a counterfeit Farmmi tokenized stock incident, further amplifying compliance risk concerns.

The sell-off also reflects profit-taking pressure, as Robinhood surged 7.67% in the prior session driven by Morgan Stanley's double upgrade to Overweight and record on-chain revenue. Within the Investment Banking and Brokerage sector, peers broadly declined, with Goldman Sachs down 0.44%, Interactive Brokers down 0.65%, and Charles Schwab down 0.71%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)