Shares of the American trading platform Robinhood fell 6.45 percent during trading on January 27 and continue to fall in premarket trading on January 28, according to data NASDAQ. As of this writing, the paper is losing 14.3 percent.
The decline in value comes following the company posted a fourth-quarter loss of $423 million. Archyde.com: The results were worse than analysts’ expectations.
Total revenue was $363 million, up from $318 million a year earlier. The company’s expenses grew by 162 percent year-on-year, which contributed to significant losses.
The company’s chief financial officer noted that it is possible that Robinhood will be able to become profitable in 2022, but he considers 2023 to be more likely, given the market situation and the launch of new products.
