Why Robinhood Stock Dove This Morning and Then Recovered
Shares of Robinhood Markets (NASDAQ: HOOD), the disruptive financial brokerage targeting millennials and Gen Z, opened 14% lower today before rapidly recovering those losses.
The stock dove after-hours yesterday after the company issued disappointing fourth-quarter results and weak first-quarter guidance. However, Wall Street mostly maintained positive price targets on the stock this morning and some investors seemed to see the dip as a buying opportunity.
As of 11:38 a.m. ET, the stock was up 5.9% as the Nasdaq rallied as well.
Source Fool.com