Robinhood (HOOD) stock is down 63%
Robinhood (HOOD) stock is down 63% from its all-time high of $85/share set in August
The retail trading company s stock has hit an all-time low just months after hitting an all-time high.
Robinhood is one of the more popular options for retail investors, providing a way for the average trader to buy and sell stocks without having an expert knowledge of the business. Robinhood itself is a publicly traded company as of earlier this year. Robinhood’s HOOD stock hit an all-time high late this summer, but has been on a consistent downward trend in the months following. Now, Robinhood HOOD has fallen percent from that all-time high valuation.
Robinhood Markets, Inc. (HOOD) first went public with an IPO back in July of this year. This decision came following the company’s boost in popularity following everything that went down with GameStop and AMC. Many users flocked to Robinhood to gobble up these meme stocks, and leadership at the company saw it as a golden opportunity to go public. Things initially looked bright for Robinhood HOOD, as it hit an all-time high valuation of $85 back in August . The stock’s value has steadily decreased over time, hitting an all-time low of $30.41 in November.
Robinhood HOOD has seen its stock fall percent from its all-time high in August . Just last month, Robinhood posted its Quarterly earnings report, which showed some larger than expected losses. Robinhood attributed these losses to market volatility and unexpected changes in trading activity. The company also found itself in hot water following the confirmation that a data breach effected million users of the trading app.
Despite its popularity, user trust has been in question ever since Robinhood began to restrict the trading of GameStop GME stocks when it first took off earlier this year.