Earnings

Robinhood HOOD Q1 2022 earnings

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Retail brokerage firm Robinhood reported a wider-than-expected loss and shrinking revenue for the first quarter, showing signs that the small-dollar trading boom that captivated Wall Street a year ago may have run out of steam.

Shares of the company were down more than 11% in after hours trading, hitting all-time lows.

Robinhood emerged as one of the key players in last year’s meme stock saga, with retail traders signing up for accounts and helping drive rapid moves in stocks like GameStop. That made for tough comparisons in the first quarter, but the slowdown in trading activity was even more dramatic than anticipated.

The logo for Robinhood is displayed on a smartphone in an arranged…



Source cnbc.com

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