Robinhood (HOOD) posts yet another disappointing Q1 as all indicators point towards bankruptcy

Sharing is Caring!

Robinhood (NASDAQ: HOOD) released its FY22 Q1 earnings on Thursday after the market closed. The trading platform posted a revenue of $299 million, down 43% from a year earlier and an EPS loss of -$0.45.

Robinhood has consistently underperformed ever since it illegally restricted investors from buying the stock during the height of GameStop (NYSE:GME) frenzy. Shares opened at $35 when the company became public in July 2021 and reached a peak of $85 before crashing down. The stock closed at $10.09 on Thursday. The company’s performance is so unsustainable that if ‘Payment for Order Flow’ is restricted or banned, it’s game over.

See also  Biden is just getting started! US economy now has negative GDP growth.

Shares of Robinhood were down 8.5% during after hours trading following the announcement.

risingcandle.com/earnings/robinhood-hood-posts-yet-another-disappointing-q1-as-all-indicators-point-towards-bankruptcy/

h/t Narrow_Feeling9985

Help Support Independent Media, Please Donate or Subscribe:
Trending:
See also  Beginning Signs of Credit Market Freeze; Assessing Fed Pain Point

Views: 30

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.