Why Is Robinhood Markets (HOOD) Stock Down Today?
Photo: Coinpedia
Robinhood stock fell around 8% in premarket trading after Q3 revenue and GAAP earnings missed expectations. Crypto transaction revenue plunged 55% year over year to $120 million as trading volumes weakened. Tighter trading spreads and declining net interest revenue added pressure despite record platform assets. Robinhood Markets (NASDAQ: HOOD) stock fell around 7% in premarket trading on October 28 after its third-quarter earnings report raised concerns about revenue growth and profitability. Despite record quarterly revenue, weaker cryptocurrency trading income and lower-than-expected GAAP earnings weighed on investor sentiment.
Source: Coinpedia
