Why Robinhood Stock Dropped 12% in January
Shares of trading platform stock Robinhood Markets (NASDAQ: HOOD) fell 12% in January, according to data provided by S&P Global Market Intelligence. The stock, which is highly exposed to cryptocurrency, has been moving in line with popular cryptocurrencies like Bitcoin. Bitcoin is down 25% over the past three months.
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Robinhood has become one of the foremost trading platforms for retail investors, and it now offers an expanded platform where people can also trade options and cryptocurrency. It has been reporting fantastic growth and high profits, and it continues to innovate, adding new high-value products. It's also entering new markets.
Source Fool.com
