Robinhood Markets (HOOD) sank 5% in premarket trading on Monday following the revelation that the company had received a Wells notice from the United States Securities and Exchange Commission (SEC).
The SEC Staff sent a Wells notice to Robinhood Crypto LLC last week. Listings for cryptocurrencies, cryptocurrency custody, and platform operations are the points of contention.
![HOOD Price chart](https://www.cryptotimes.io/wp-content/uploads/2024/05/hood-price-dump.jpg)
After the company received notice, the price of Robinhood Market share decreased by 5%. However, the price has increased by 2.34%, as per the TradingView data. At the time of writing, the price of HOOD is valued at $18.
Also Read: Robinhood Responds to SEC’s Wells Notice