More bear market signals, this time from stock-trading app, Robinhood. A favorite among retail traders, with more than 22 million funded accounts, trading boomed during the pandemic when stuck-at-home retail traders sought to trade with funds from government stimulus payments. Now stimulus is fading and the retail trading app faces sharp declines in trading activity.
Robinhood shares tank 15% after it loses active users, forecasts weak revenue
Robinhood gave a bleak revenue forecast for the first quarter of 2022 on Thursday as its latest earnings report showed a decline in active users. The newly public brokerage anticipates first-quarter revenue of less than $340 million, down 35% compared with 2021…..Monthly active users fell to 17.3 million last quarter from 18.9 million in the third quarter. (CNBC)