Business

Robinhood Abandoned by Fans of Crypto and Meme Stocks

What a difference a year makes.

Robin Hood (HOOD) – Get Robinhood Markets, Inc. Class A Reportthe fashionable brokerage in 2021 now seems to be the ghost of itself.

And things are not about to change.

The fintech has just published its first quarter results and this is the exact opposite of its excellent performance achieved during the same period in 2021. Revenue fell 43% to $299 million in the first quarter compared with a year earlier. This decline is due to a decline of 48% to $218 million in revenue generated by transactions carried out by Robinhood customers, the company said in a press release.

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