HOOD Stock Drops Overnight Amid Bitcoin Weakness: Robinhood Reports 28.9M Funded Customers In October

• Total platform assets declined 3% from September to $383 billion, but were up 12% year-over-year.

• Meanwhile, net deposits were $15.1 billion, a 46% annualized growth rate relative to September.

• On Stocktwits, retail sentiment around HOOD stock was 'bearish' at the time of writing, though many users pointed to the positive catalysts for the company.

Shares of Robinhood Markets Inc. (HOOD) slumped more than 2% in the overnight session late on Thursday as a slide in Bitcoin prices weighed on the stock, though its October metrics came in strong.

Bitcoin (BTC) prices dropped to $68,399.67 at the time of writing, the lowest level since August.

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Robinhood's October Metrics Come In Strong

Earlier on Thursday, Robinhood said its funded customers at the end of October were 28.9 million, up about 130,000 from September and around 1.8 million year-over-year.

Total platform assets declined 3% from September to $383 billion, but were up 12% year-over-year. Meanwhile, net deposits were $15.1 billion, a 46% annualized growth rate relative to September.

Equity Notional Trading Volumes were $325 billion, up 2% year-over-year, with average daily volumes at $14.8 billion. Options Contracts Traded were at 289 million, up 8% year-over-year. Event Contracts Traded were 5.9 billion, up 136% year-over-year.