Robinhood Shares Dip After Hours Following Dubious Stock Token Play

Robinhood's stock takes a hit in extended trading—because nothing says 'innovation' like fake stock tokens.

Here's what went down:

The trading app's latest stunt—pumping out synthetic stock tokens—backfired spectacularly. Investors weren't buying the crypto-flavored Wall Street cosplay, sending shares sliding after the bell.

Market reaction? A classic case of 'sell the news.' Robinhood's attempt to crypto-wash traditional equities landed with the grace of a brick through a brokerage window.

Bonus jab: Another day, another fintech 'disruption' that somehow always ends with bag holders.

The value of Robinhood stock (HOOD) dropped in today’s morning trading session. Notably, Robinhood (HOOD) slipped 1.67% in Pre-market trading.

The decline followed the growing backlash from the community that Robinhood EU’s newly tokenized “OpenAI stock” was fake.

Robinhood CEO Vlad Tenev has issued a disclaimer regarding this, describing the initiative as an early step towards something bigger.

Controversy Trails Robinhood’s New OpenAI Tokens

According to Wu Blockchain, OpenAI has denied involvement with Robinhood’s latest crypto stock tokenization push.

On Monday, June 30, 2025, Robinhood introduced shares of OpenAI and SpaceX on the blockchain.

Robinhood said users can access the tokenized assets exclusively through its EU crypto app.

To mark the launch, Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users.

Only EU users who were onboarded to trade the stock tokens by July 7 are eligible for the giveaway. U.S. users were restricted from accessing these tokens due to regulatory requirements.

For the campaign, Robinhood said it allocated $1 million worth of OpenAI and $500,000 worth of SpaceX to users.

Following this unique move, OpenAI recently issued a disclaimer regarding the tokenized share. As revealed by WuBlockchain, OpenAI said the so-called “OpenAI tokens” are not company equity.

The company added that the tokens were launched without its involvement or approval.

SpaceX founder Elon Musk also distanced himself from the tokens.

In an X post, Musk commented, “Your ‘equity’ is fake,” triggering a classic case of Fear, Uncertainty, and Doubt (FUD) in the community.

Vlad Tenev Breaks Silence on the Backlash

In an X post, Robinhood Co-Founder and CEO Vlad Tenev shed light on the “OpenAI tokens”.

The CEO stated that the tokens are not technically considered equity. He, however, noted that the new onchain assets give retail investors exposure to private assets.

Based on Tenev’s comments, the “OpenAI tokens” are not real company shares, but synthetic assets. This means they can only track the price actions of private firms, such as OpenAI and SpaceX.

The stock tokens do not give investors direct shares and voting rights in companies, contrary to assumptions.

Rather, investors are exposed to issuer risk, regulatory uncertainty, and potentially thin liquidity. Market analysts, therefore, advised users to treat the tokens as high-beta derivatives.

In his post, Tenev described the giveaway as “a seed for something much bigger.” He added that the giveaway announced has sparked interest from many private companies.

Per his account, these entities have expressed intentions to join Robinhood in the tokenization revolution.

Despite Tenev’s comments, some individuals expressed skepticism. These individuals stated that they were unclear about the actual representation of the OpenAI tokens.

Some industry stakeholders, therefore, called for transparent data. They asked Robinhood to provide a clear data on how these tokens are priced and what drives their valuation.

Robinhood Stock and Crypto Stock Outlook

The situation with Robinhood highlights the need to push for boundaries in the crypto space. Companies must inform their customers about the risks and mechanics of their investments.

Robinhood stock (HOOD) surged above $100 to reach a new all-time high following the announcement of the stock tokenization.

However, the speculations surrounding the stock token or OpenAI shares led to a decline in HOOD.

According to Google Finance, HOOD is currently traded at $97.98. The value of the stock slipped 1.67% in pre-market trading. However, Optimism remains high, as the price has experienced a 1.6% increase over the past 24 hours.

Other cryptocurrency stocks, such as Coinbase (COIN) and MicroStrategy (MSTR), also demonstrated positive momentum as of writing. In the past 24 hours, COIN increased by 5.7%, and MSTR rallied 7.76%