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Robinhood’s growth in the summer slowed as trading calmed

yonkershonda.com / CC BY-SA 2.0

NEW YORK (AP) — The meteoric growth of Robinhood Markets is coming back to earth, much like its stock price. The company whose easy-to-use app has brought new generations of investors into the stock and cryptocurrency markets said Tuesday that its revenue growth slowed to 35% in the July-September quarter, down from 131% in the spring and 309% at the start of the year. The slowdown came as the company entered a traditionally slower part of the calendar for brokerages and as its customers traded less often than earlier in the year. Robinhood’s loss for the quarter was $1.32 billion or $2.06 per share. 

Associated Press

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