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Robinhood shares rally more than 9% Friday after falling 14% in earlier trading

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Baiju Bhatt and Vlad Tenev attend Robinhood Markets IPO Listing Day on July 29, 2021 in New York City.

Cindy Ord | Getty Images

Robinhood clawed back its major losses and gained on Friday as investors looked past disappointing guidance from the company and rallied around progress on new product developments.

Shares of the stock-trading app climbed 9.7% after plunging 14% to $9.94, their low for the day.

Robinhood’s first-quarter revenue guidance and its data on monthly active users were the weak spots in its earnings report released Thursday after the bell.

The newly public brokerage anticipates first-quarter revenue of less than $340 million, off 35% from the year-earlier period. Wall…



Source cnbc.com

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