Are Investors Valuing Robinhood's Business Near $0?
In a remarkable fall from grace, the stock of Robinhood Markets (NASDAQ: HOOD) has collapsed 91% from its all-time high of $85 a share, which was set not long after it listed on the public markets in 2021.
The company was flying high thanks to Generation Z investors, who were mostly accessing the financial markets for the very first time, and used Robinhood as their stock trading platform of choice. Pandemic-related stay-at-home orders combined with trillions of dollars in U.S. government stimulus served as fuel for their ambitious investing journey.
But with social conditions and the economy slowly returning to normal, the lights appear to have gone out at Robinhood's party.
Source Fool.com
