Patrick Moley
Piper Sandler & Co., Research Division

All right, everyone. Welcome back. It's my pleasure to introduce Steve Quirk. Steve is the Chief Brokerage Officer at Robinhood. Robinhood, as you all know, is a mobile-based retail brokerage platform, multi-asset class offering across cash equities options, futures, index options, prediction markets, crypto and banking now.

Steve is a 35-plus-year veteran in the brokerage industry. He joined Robinhood in January 2022 from TD Ameritrade. Steve, it's great to have you back.

Steven Quirk
Chief Brokerage Officer

Thanks for having me again.

Patrick Moley
Piper Sandler & Co., Research Division

All right. So let's talk about the environment. The stock when I wrote this question list had been on a nice run over the last 2 weeks, remains well below the highs we saw last year. Market seems to be signaling that something has changed in the retail landscape. From your seat, what does the retail environment actually look like today? How is customer behavior evolved in recent quarters? And then if you can share any comments about May, we saw things were pretty positive in April, but anything you can say about May, I'm sure everyone in the audience would appreciate it.

Steven Quirk
Chief Brokerage Officer

Sure. Yes. I would say like the overall health of the retail we're 27.5 million retail customers. So we often get asked how are they navigating this market environment. And if I go all the way back to when we've seen these dips around tariffs and things, they've been pretty aggressive dip buyers. And sometimes that causes concern, oh, what if it