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Robinhood Leads Crypto Stocks Lower After Disappointing Earnings

Robinhood Leads Crypto Stocks Lower After Disappointing Earnings

Robinhood Leads Crypto Stocks Lower After Disappointing Earnings
Robinhood Leads Crypto Stocks Lower After Disappointing Earnings

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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