Robinhood tumbles after slowdown warning clouds crypto boom
The online brokerage said that a significant portion of its second-quarter revenue was fueled by virtual currencies, primarily Dogecoin, and predicted it would see lower revenue during the third quarter.
Robinhood Markets Inc. warned investors Wednesday that a second-quarter revenue surge that was fueled by a boom in cryptocurrency trading might not last.
In its first earnings report as a publicly traded company, the brokerage said revenue more than doubled to $565 million, but that a significa
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