Robinhood shares tank 10% after crypto revenue falls by three quarters

[Dociko]

Robinhood posted $51 million worth of transaction-based revenue from crypto in Q3, marking a 78% decrease compared to the previous quarter. Robinhood shares (HOOD) have fallen sharply on the back of the firm’s Q3 results which posted lower than expected crypto trading revenue.

The popular retail trading firm published its Q3 report on Oct. 26, with crypto accounting for $51 million (19%) of the total $267 million worth of transaction-based revenue in the quarter.

The release of the report on Tuesday coincided with HOOD dropping around 10% to $35.70, however the price has since gained 1.9% to sit at $36.40 at the time of this writing.
Source: Cointelegraph