Y Combinator’s Garry Tan Goes to the MatRead more

Briefing
markets

Robinhood Stock Sinks as it Forecasts Steep Drop in Revenue

By
Akash Pasricha
· · Source: The Information

Shares of Robinhood fell as much as 15% in after hours trading after the operator of a retail stock and cryptocurrency trading app forecast a drop in revenue as users and trading activity declined. The company reported $423 million in net losses for the fourth quarter vs. $13 million in net income in the same period a year ago as stock compensation expenses rose. Revenue rose 14% to $363...

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