Tuesday, February 7, 2023
New York CT
No Result
View All Result
  • Home
  • News
  • Health
  • Business
  • Politics
  • Opinion
  • Sports
  • Entertainment
  • Fashion
  • Tech
  • Home
  • News
  • Health
  • Business
  • Politics
  • Opinion
  • Sports
  • Entertainment
  • Fashion
  • Tech
No Result
View All Result
newyorkCT
No Result
View All Result
Home Tech

Trading app Robinhood sinks 11% in after-hours trade after posting loss

admin by admin
January 28, 2022
in Tech
0
Trading app Robinhood sinks 11% in after-hours trade after posting loss
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Robinhood shares dropped some 11% in after-hours commerce Thursday after it posted a web loss for the quarter regardless of edging previous analysts’ estimates for quarterly income as robust crypto buying and selling boosted transaction volumes on the on-line brokerage.

Robinhood, in its third set of outcomes as a public firm, reported a web lack of $423 million or $0.49 per share within the three months ended December. A yr earlier, which was earlier than its IPO, the corporate posted web revenue of $7 million or $0.01 per share.

Shares within the firm have been down as a lot as 11% at $10.32 in after-hours commerce Thursday following the information.

The corporate posted complete income of $363 million for the fourth quarter ended Dec. 31, in comparison with $318 million a yr earlier, beating analysts’ expectations of $362.14 million in income, in accordance with IBES knowledge from Refinitiv.

Transaction-based income from cryptocurrencies jumped 304% to $48 million, whereas income from fairness buying and selling declined 35% to $52 million.

Robinhood loved a robust run through the pandemic, with homebound traders utilizing its app to commerce shares and different property. It was at the center of a trading mania for meme shares in January final yr.

Robinhood logo displayed on a phone screen and GameStop logo displayed on a laptop screen are seen in this photo illustration
Robinhood was on the middle of a buying and selling mania for meme shares like GameStop in January 2021.
NurPhoto by way of Getty Photographs

Buying and selling exercise rose through the pandemic when the Federal Reserve injected large liquidity into capital markets and traders raced to money in on the growth.

However the Fed is predicted to reduce asset purchases and lift rates of interest, which analysts anticipate will put a damper on buying and selling.

Cryptocurrencies have been hammered just lately. Bitcoin, the most important cryptocurrency, plunged 50% to $32,951 final week, lowest since July final yr.



Source link

Tags: afterhoursapplosspostingRobinhoodsinkstradetrading
admin

admin

Related Posts

Crypto firms ditch Super Bowl commercials this year after FTX meltdown
Tech

Crypto firms ditch Super Bowl commercials this year after FTX meltdown

February 6, 2023
Change this setting or your iPhone is unsafe
Tech

Change this setting or your iPhone is unsafe

February 6, 2023
Amazon could reportedly be hit with FTC antitrust lawsuit
Tech

Amazon could reportedly be hit with FTC antitrust lawsuit

February 6, 2023
Next Post
John Stamos and Bob Saget ‘clashed’ on set of ‘Full House’

John Stamos and Bob Saget 'clashed' on set of 'Full House'

NFL, NBC choose to ignore Aaron Donald’s dirty behavior

NFL, NBC choose to ignore Aaron Donald's dirty behavior

Biden has to do more than decry firearms during NYC visit

Biden has to do more than decry firearms during NYC visit

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

White House unveils president’s new COVID response strategy

White House unveils president’s new COVID response strategy

11 months ago
CNBC’s Jim Cramer blasts Elon Musk over Twitter drama: ‘Big tactical mistake’

CNBC’s Jim Cramer blasts Elon Musk over Twitter drama: ‘Big tactical mistake’

4 months ago
Gonzaga vs. BYU pick, odds

Gonzaga vs. BYU pick, odds

4 weeks ago
AOC’s Israel ‘obsession’ is ‘shameful’

AOC’s Israel ‘obsession’ is ‘shameful’

3 months ago

Categories

  • Business
  • Entertainment
  • Fashion
  • Health
  • News
  • Opinion
  • Politics
  • Sports
  • Tech

Topics

Adams Biden Bidens Big Bill Cases CBS CEO City Court COVID COVID19 Day dead Elon Eric Gov Health Hochul home House inflation Joe Kathy man Mandate Mayor monkeypox Musk NYC Office Report reveals school State time Trump Twitter Ukraine Vaccine win workers Yankees years York
No Result
View All Result

Highlights

Matthew McConaughey voices Elvis on Netflix — but sounds like his surfer dude self

Crypto firms ditch Super Bowl commercials this year after FTX meltdown

Exclamation Point: Sen. Hoylman-Sigal on Grieving Families Act, MSG facial recognition & more

NYC ending COVID vaccine mandate for city workers

Google unveils ChatGPT rival called Bard for test users

Trump, Christie bicker online over 2024 presidential election

Trending

Lee Zeldin ditches campaign treasurer he shared with lying George Santos
News

Lee Zeldin ditches campaign treasurer he shared with lying George Santos

by admin
February 7, 2023
0

Former Rep. Lee Zeldin introduced on Monday that he's beginning a brand new political motion committee...

Biden’s balloon BS insults Americans’ intelligence and endangers us

Biden’s balloon BS insults Americans’ intelligence and endangers us

February 7, 2023
LeBron James opens up about Kyrie Irving trade disappointment

LeBron James opens up about Kyrie Irving trade disappointment

February 6, 2023
Matthew McConaughey voices Elvis on Netflix — but sounds like his surfer dude self

Matthew McConaughey voices Elvis on Netflix — but sounds like his surfer dude self

February 6, 2023
Crypto firms ditch Super Bowl commercials this year after FTX meltdown

Crypto firms ditch Super Bowl commercials this year after FTX meltdown

February 6, 2023

© 2021 Newyork CT All Rights Reserved

No Result
View All Result
  • Home
  • News
  • Health
  • Business
  • Politics
  • Opinion
  • Sports
  • Entertainment
  • Fashion
  • Tech

© 2021 Newyork CT All Rights Reserved