Is Robinhood Stock a Buy On the Pullback?
It's been a tough start to the year for Robinhood Markets (NASDAQ: HOOD). Things did not get any better following its first-quarter earnings report, as the stock tumbled on disappointing results. Its share price is now down more than 35% year to date, as of this writing.
Let's take a closer look at its results to see if this is a buying opportunity.
For the second quarter in a row, a large decline in cryptocurrency revenue stole the spotlight from what was otherwise a strong quarter from Robinhood. Once a big revenue driver, the online broker saw its crypto revenue plunge 47% to $134 million.
Source Fool.com
