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