ASO - Hot Stocks: TGT warning; HOOD drops; ASO rises on earnings; VERU files for COVID drug
Reports of encroaching regulatory pressure sparked a decline in shares of Robinhood (NASDAQ:HOOD) during Tuesday's intraday trading. Worries that the U.S. security watchdog will curtail the firm's business model sent the stock reeling. Target (TGT) represented another high-profile decliner. The retailer fell in the wake of a margin warning. Looking to the upside, earnings news inspired gains in Academy Sports and Outdoors (ASO). At the same time, Veru (VERU) posted a double-digit percentage advance after making a regulatory filing for its COVID drug. Decliners Robinhood (HOOD) suffered selling pressure as regulators are reportedly considering changes that would drastically impact the financial trading platform's business model. According to Bloomberg, the U.S. Securities and Exchange Commission is mulling rules that would force retail stock orders to go through an auction process. This move would undermine HOOD's Payment-for-Order-Flow revenue model. As such, the stock dropped 7% in intraday action. Elsewhere in the market,
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Hot Stocks: TGT warning; HOOD drops; ASO rises on earnings; VERU files for COVID drug