Robinhood Markets Inc (NASDAQ:HOOD) rallied more than 6% into its first-quarter earnings print but the trading platform’s results caused the stock to plummet to a new all-time low of $8.77 at 5:45 p.m. in after-hours trading on Thursday.
Robinhood reported a massive miss, printing a net loss of 45 cents per share on revenues of $299 million compared to the consensus estimate of a loss of 36 cents per share on revenues of $355.8 million. The company also reported its monthly active users were down 10% over the same period the year prior.
