Robinhood monthly active users fell to 17.3 million last quarter from 18.9 million in Q3.
Jan 27
49 Comments
They also reported a net loss of $423 million and $363 million in revenue. BTW, their IPO was at a $32B valuation.
Looks like the dropping stock price is actually justified.
Where are these users going? Cash App? Legacy trading platforms like Fidelity?
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I’m guessing Robinhood users aren’t very sticky and also don’t have large funds/big investments for long duration of time.
That being said, the only time Chase and others can offer "instant" transfers is because is if you have a bank account with them and use THEIR stock brokerage service. Since the transfer is internal, it doesn't have to go through the bank clearinghouse which takes days. It's not Robinhood's fault for the delay.