Robinhood stock falls 8% after big earnings miss due to weak crypto trading revenue
Burns Brief
While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1 The news has rattled market participants, with bears looking to push prices lower while bulls attempt to defend key support levels. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.
While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1.07 billion.
Key Takeaways
- While the trading platform’s crypto revenue tanked 47% to $134 million, a record-breaking surge in prediction market bets helped push overall revenue up 15% to $1