Robinhood (NASDAQ:HOOD) stock falls 9.4% in premarket trading as investors absorb the dramatic dropoff in its cryptocurrency-transaction revenue in the fintech's Q3 earnings report. Crypto trading revenue sank by 78% from Q2's $233M. The $51M of crypto trading revenue in Q3 fell $112M short of Piper Sandler analyst Richard Repetto's estimate. That's a far sharper drop than the 35% reduction in total crypto trading volume across the industry, Repetto points out in a note. Repetto has a Neutral rating and $38 price target on the stock. Robinhood (HOOD) didn't break out dogecoin (DOGE-USD) trading revenue this quarter. In Q2, the company said 62% (or $145M) of its crypto trading revenue came from doge, up from 34% in Q1. More Robinhood (HOOD) shares will unlock for trading over the next fives weeks, Repetto adds. Some 62M will become unlocked on Wednesday, and ~49M more will unlock on Nov. 10, Robinhood CFO Jason Warnick