Robinhood drops 14% after reporting big declines in trading volume and revenue
Publishing timestamp: 2023-11-08 12:26:44
Summary
Robinhood's third-quarter revenue fell short of analysts' predictions due to a decline in stock trading transaction revenue. The company also reported a decrease in monthly active users and a drop in crypto trading volume. Robinhood's shares fell after the news, and the company is looking to expand growth in Europe. The decline in trading coincides with rising treasury yields and three consecutive months of stock market declines.
Sentiment: NEGATIVE
Tickers: BTC.CM=, HOOD, US10Y,
Keywords: u.s. 10 year treasury, robinhood markets inc, earnings, business news, investment strategy, stock markets, bitcoin/usd coin metrics, cryptocurrency, financials, breaking news: investing, technology,