Robinhood shares fall to lowest level since IPO

Shares of Robinhood Markets Inc fell more than 14% on Friday to their lowest level since the stock’s IPO in July.

Robinhood, a commission-free brokerage had posted a quarterly loss on Thursday evening.

The company reported a net loss of $423 million for the three months ended December, compared to a profit a year earlier.

Also, its costs more than doubled.

Robinhood’s monthly active users declined 8% from the sequentially previous quarter as retail investors pulled back from the market.

The stock was also among the most active and watched on retail trading forum Stocktwits and trending discussions on Reddit as well.

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