Down 14% after disappointing earnings, Robinhood Markets’ (NASDAQ: $HOOD) stock is leading a rout in crypto-related securities on April 29.
Cryptocurrency stocks are falling after Robinhood’s earnings missed Wall Street forecasts and amid escalating tensions between the U.S. and Iran.
Robinhood reported a 47% decline in crypto-related revenue during this year’s first quarter, stunning many analysts and investors and leading to the current rout.
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Other crypto stocks are down sharply on the day, with U.S. exchanges Coinbase Global (NASDAQ: $COIN) and Bullish (NYSE: $BLSH) each down 8%.
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