Robinhood Trading Revenues Fall In Q3 – Shiba Surpasses Doge.

john345 (25)in #bitcoin • 3 years ago

In premarket trading on Wednesday, shares of Robinhood Market Inc. dipped below its IPO price, a day after the online trading platform disclosed lower-than-expected third-quarter revenues due to a drop in cryptocurrency trading.

Shares of Robinhood fell 10.44% to $35.44 a share in premarket trading Wednesday, more than $2 below their $38 IPO price and less than half of their $85 peak, on news of sluggish trade in cryptocurrency like Dogecoin (DOGE).

The dip happened after more than 333,000 individuals signed a change.org petition titled “Kindly request of Robinhood to offer Shiba Inu currency!” with the link URL stating that the trading platform would benefit if it listed the coin.

Shiba Inu coin has risen to become the 11th-largest cryptocurrency, with a market valuation of about $24 billion, putting it within striking reach of Dogecoin’s $29 billion market cap, spurred by speculations of a Robinhood IPO.