Jim Cramer said Robinhood still cannot shake its crypto image, even as the trading app tries to widen itself into more of a financial super app. “HOOD–can't change the crypto perception just yet and now doing predictions market. Gunslingers all over the place there,” he posted on X on April 29, 2026.
The market did not like what it saw. Robinhood shares fell 8% after the company released first-quarter results, and the stock slide came as investors focused on a 47% drop in cryptocurrency trading revenue to $134 million. That decline helped feed the pessimism around a business that is trying to move beyond the volatility of digital assets.
Robinhood has been attempting to diversify its offering, and Chief Executive Vlad Tenev has been pitching the company as a super app built around a broader set of financial services. The new push includes predictions market activity, a sign that Robinhood is looking for ways to keep users engaged beyond the crypto trade that helped define its platform.
But the numbers underline how hard that shift may be. Robinhood missed Wall Street estimates, and Cramer’s blunt view suggested that the company’s reputation is still tied to the same high-risk crowd it first attracted during the meme-stock era. In his telling, Robinhood users are still “gunslingers,” a label that captures both the energy and the hazard of the platform’s base.
For Tenev, the challenge is no longer simply adding new products. It is persuading investors that Robinhood can become something sturdier than a one-way bet on crypto, even after a quarter that showed how quickly that business can slide.