Robinhood shares tank on Q4 results

The firm posted a net loss of $423 million, or 49 cents a share, prompting its shares to fall below $10 in pre-market trading. Monthly active users were down eight per cent, while the average revenue per user also fell.

Robinhood priced its shares at $38 when it went public last July. In August they hit a high of $85 but have since been in a tailspin before hitting this week’s low.

According to Bloomberg, this makes the Silicon Valley darling the worst “high-profile” global stock market debut since the beginning of the pandemic.