Robinhood share price down 70% from August high
Market analysts are nonplussed by HOOD stock price as long as it continues to ramp up its presence in the cryptocurrency trading space. As Robinhood struggles with its declining share price, could ramping up its cryptocurrency offerings help boost the company’s outlook?Robinhood is a financial services company that also acts as a retail trading platform for ordinary users. It's known for meme stocks and currently offers seven cryptocurrencies for trading.Since Aug. 4, Robinhood (HOOD) has fallen nearly 70% from its ATH of $70.39 to $25.94, and it’s been below the $38 IPO price for weeks.....
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A digital wallet associated with Robinhood, the United States-based portal allowing users to trade multiple instruments, including crypto without commission, is the fifth largest holder of Ethereum (ETH). According to Arkham Intelligence, an on-chain analytics platform, Robinhood controls 1.72 million ETH, worth $2.93 billion at current prices as of August 30. It could not be immediately ascertained […]
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....
Robinhood Markets Inc., the American financial services company headquartered in Menlo Park, California, has seen its initial public offering (IPO) delayed by the U.S. Securities and Exchange Commission (SEC). According to a report citing “people familiar with the matter” the SEC is questioning Robinhood’s cryptocurrency business. SEC Questions Robinhood’s Crypto Dealings, IPO Delayed Robinhood was supposed to be having an initial public offering this month but according to a report from Bloomberg, the listing has been slowed by the SEC. The report cites a few....
As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GameStop, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Friday, CNBC reported.As per the new....
Ark Investment took the opportunity to buy Robinhood shares at a discount following the trading company's unsatisfactory earnings report. ARK Invest, the investment management firm focused on innovative tech led by Cathie Wood, took advantage of a dip in the price on Wednesday to buy nearly $80 million worth of Robinhood stock.As per daily trading data, Wood’s ARK purchased a total of 2.24 million shares of Robinhood across three of Ark’s ETF funds, with the majority of shares going to the flagship fund ARK Innovation ETF. Robinhood now accounts for 1.33% of the Innovation ETF. On Oct. 27,....