Shares of Robinhood Markets Inc fell more than 14per cent and were set to open Friday's session at their lowest level since the stock's IPO in July after the commission-free brokerage posted a quarterly loss on Thursday evening.
Like many tech start-ups, Robinhood has yet to turn a profit following its IPO. Its monthly active users declined 8per cent from the sequentially previous quarter as retail investors pulled back from the market. "Its popularity seems to be on the decline. And its revenue growth is following in the wake of its declining popularity. So when you when you sum all that together, it likely has a choppy road in front of it."
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