HOOD - Robinhood stock touches new lows staying below IPO price after hack Q3 miss
Robinhood Markets (HOOD -8.9%) stock plumbs to new intraday lows, after the Wall Street Journal traces the fintech stock's short, twitchy history. It hasn't traded above its $38 IPO price since Nov. 8, and that was only a brief rise to $38.17. It hasn't reliably stayed above that threshold since Oct. 26. The stock has been buffeted by a number of factors. After the close on Monday, Nov. 8, the fintech known for its mobile trading app disclosed that a hacker obtained email addresses for millions of people and full names for 2M others. About a week earlier, Robinhood's (NASDAQ:HOOD) huge Q3 miss was driven by a dropoff in crypto trading revenue. Specifically, revenue generated from dogecoin (DOGE-USD) fell by 86%. Dogecoin-transaction-based revenue fell to 8% of its total revenue in Q3 from 32% in Q2. Results were also hurt as meme-stock trading subsided from earlier in the year. In
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Robinhood stock touches new lows, staying below IPO price, after hack, Q3 miss