What's Going On With Robinhood Stock Monday?

Benzinga

Robinhood extended a month-long decline despite strong Q3 earnings and multiple analyst price-target hikes. Shares have slipped into a short-term bearish trend even after a massive year-to-date rally.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Robinhood shares fell Monday and extended a month-long slide of more than 10%

00:06after strong third-quarter results earlier this month, according to Benzinga.

00:11On November 5th, the trading platform reported earnings of $0.61 per share on $1.27 billion in

00:18revenue, beating estimates on both metrics. For analysts, maintain their ratings on Robinhood

00:23and raise their price targets, with updates ranging from $121 to $172.

00:30Shares have pulled back into a short-term bearish trend despite a 188.7% year-to-date gain within a

00:37wide 52-week trading range. Shares closed down 10.73% at $115.97, according to data from Benzinga Pro.

00:47For all things money, visit Benzinga.com.

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