Investment trading platform Robin Hood (NASDAQ:HOOD) is in the red today, as a recent cryptocurrency conversation failed to pick up a popular app. HOOD shares are moving close to their all-time low today, as investors yearn to find out what’s pulling the company down.
So what’s been going on with Robinhood lately?
Robinhood went public only last July with an opening of $ 38 per share, the lowest value expected range. Since then, there has been a general gradual decline. Today’s drop to $ 15.17 is seemingly the last deflationary force on already problematic stocks. Reason for intrusion? It’s a little vague.
Robinhood expected the addition of a meme-coin dear Shiba Inu (CCC:SHIB-USD) from December. The coin is expected to be presented on the trading platform for the first time this month, resulting in strong gains for the coin. Unfortunately, the add-on doesn’t mean any benefit to Robinhood other than a dazzling coin ranking ad.
What else do you need to know about Robinhood today?
HOOD shares are falling after comments from the CFO
Today, Jason Warnick, Chief Financial Officer of Robinhood, had ominous words for rumors of a SHIB list attracting headlines. “Let’s not forget that our customers and others would like to see us add more coins, “he said. However, he declined to offer any confirmation of the addition of a token to Robinhead ‘s choice.
Instead, Warnick stressed the transparency needed to add new coins to its offering as a result of the recent public offering. Not exactly an inspiring word for crypto bikes or Robinhood users looking to buy SHIB.
HOOD ended the day by 0.85%. Whether this proves Robinhood’s latest decline remains to be seen.
At the date of publication, Shrey Dua did not have (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author and are the subject of InvestorPlace.com Guidelines for publication.