Why Robinhood Stock Lost 13% in November
Shares of investing platform Robinhood Markets (NASDAQ: HOOD) dropped 13% in November, according to data provided by S&P Global Market Intelligence. The company reported excellent third-quarter results, but it's been highly reliant on cryptocurrency trading, and many high-profile cryptocurrencies have been falling recently.
Robinhood has evolved from a marketplace for speculative stock investing to a platform for...other types of speculative investing, while also expanding into more traditional financial services, which provides it with greater stability. Today, it has a growing list of products, including cryptocurrency trading, credit cards, and a membership club. It has also become highly profitable.
Image source: Getty Images.
Source Fool.com
