Robinhood stock outruns Bitcoin in intraday crash, down over 10% in pre-market
The decline followed Robinhood Market’s announcement that it would sell up to 98 million Class A shares over time. The cost to purchase one Robinhood share (HOOD) dropped massively in the pre-market session on Thursday, beating even so-called volatile cryptocurrencies like Bitcoin in terms of intraday losses.In detail, HOOD was down 10.2% to $63.25 as of 8:00 am EDT compared to its $85 high in the previous session. On the other hand, Bitcoin (BTC) is down almost 6% over the past 24 hours, trading around $37,600.The stock plunged partly because of its excessive valuations that prompted....
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