On July 24, Robinhood fell 3.6% in regular trading, trading at $96.7/share, with turnover of $149 million. The decline was driven by a confirmed security breach of CEO Vlad Tenev's X account and continued institutional selling pressure.

Robinhood confirmed that Tenev's X account was compromised and used to promote a fraudulent meme coin called VLAD on Robinhood Chain. On-chain records show the attacker deployed the token 46 minutes before the fake post, listing Tenev's X profile as the token's official website. The token generated over $22 million in trading volume within hours. The attacker extracted approximately $247,000 by calling the fee-claim function on the Pons launch platform six times. This marks at least the third social media scam related to Robinhood Chain meme coins within three weeks, raising concerns about brand credibility.

Simultaneously, ARK Invest sold 97,300 shares of Robinhood worth approximately $10.35 million on July 23, extending its recent reduction trend with cumulative sales exceeding $35 million over recent trading sessions. Additionally, director Vlad previously filed Form 144 to sell 327,500 shares valued at approximately $37.15 million, adding further selling pressure. JPMorgan raised its price target to $99 from $89, while the analyst consensus target remains at $124.71 with an overweight rating.

(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.)