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Robinhood shares slump to lowest level since IPO after $423-mn Q4 loss

Its monthly active users declined 8% from the sequentially previous quarter as retail investors pulled back from the market

Robinhood
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Robinhood (Photo: Bloomberg)

Reuters
Shares of Robinhood Markets Inc fell more than 14% 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.

The company reported a net loss of $423 million for the three months ended December, compared to a profit a year earlier, and its costs more than doubled.

Like many tech start-ups, Robinhood has yet to turn a profit following its IPO. Its monthly active users declined 8% from the sequentially previous quarter as retail investors pulled back from the market.

"Robinhood was one of the

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First Published: Jan 28 2022 | 7:34 PM IST

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