Why Robinhood Markets Shares Are Falling

Robinhood Markets Inc HOOD shares are trading lower by 8.7% at $22.08. The move appears related to overall market weakness as stocks dip amid omicron variant concerns.

Robinhood Markets shares are trading lower by 40% over the past month after the company in late October reported worse-than-expected third-quarter EPS and sales results and issued fourth-quarter and FY21 sales guidance below estimates.

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Robinhood Markets is creating a modern financial services platform. It designs its own products and services and delivers them through a single, app-based cloud platform supported by proprietary technology. Its vertically integrated platform has enabled the introduction of new products and services such as cryptocurrency trading, dividend reinvestment, fractional shares, recurring investments and IPO Access.

Robinhood Markets has a 52-week high of $85.00 and a 52-week low of $21.70.