DraftKings, Flutter Shares Fall After Robinhood Reports September-to-Date Trading Volume of $206 Billion, Up Sequentially

MT Newswires Live

Oct 01

Shares of DraftKings (DKNG) and Flutter Entertainment (FLUT) were down in recent Tuesday trading after Robinhood Markets (HOOD) said Monday that its equity trading volumes from Sept. 1 through 25 totaled $206 billion, with 187 million option contracts traded.

Robinhood reported on Sept. 11 that its October equity trading volumes totaled $199.2 billion with 195.5 million option contracts traded.

According to Bloomberg, Robinhood Markets has become a competitor of sports betting operators like DraftKings and Flutter Entertainment as it allows trading of contracts on the results of sporting events.

Shares of DraftKings were down more than 10% and Flutter Entertainment stock was down more than 8%, while Robinhood Markets shares were up 1.7% in recent Tuesday trading.

Price: 37.93, Change: -4.38, Percent Change: -10.34

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