During the middle of an unspectacular rookie season, Floyd was traded by the Nets with Mickey Johnson to the Golden State Warriors for Micheal Ray Richardson.

[4] During the 1987 NBA Playoffs, Floyd averaged 21.4 points, 10.2 assists, and 1.8 steals in 10 games,[5] and played a key role in a first round upset of the Karl Malone-led Utah Jazz.

In December 1987, Floyd was traded with Joe Barry Carroll to the Houston Rockets for Ralph Sampson and Steve Harris.

Floyd still holds the NBA playoff record for points scored in a quarter (29) and in half (39),[8] in Game 4 of the aforementioned 1987 Western Conference Semifinals against the Lakers.

Floyd scored 12 consecutive field goals in the fourth quarter, finishing the game with 51 points, and prevented a sweep of the Warriors by in-state rival Lakers.

In 2004–2005, he coached junior varsity boys' basketball at Gaston Day School, located in Gastonia, North Carolina, his hometown.