Why Is Everyone Talking About Robinhood Stock?
Robinhood Markets (NASDAQ: HOOD) recently became a hot topic again after a series of negative developments caused the online brokerage's stock to tumble below its IPO price of $38. Let's review those headlines, if investors overreacted, and if its stock is still worth buying.
Robinhood's latest decline started after it released its disappointing third-quarter earnings report on Oct. 26. Its revenue grew 35% year over year to $365 million, but missed analysts' estimates by nearly $73 million. Its guidance for "less than $1.8 billion" in revenue for the full year, which implies a maximum of 85% growth, also broadly missed expectations for 111% growth.
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Source Fool.com
