Shares of Robinhood Markets Inc fell more than 14per cent and were set to open Friday's session at their lowest level since the stock's IPO in July after the commission-free brokerage posted a quarterly loss on Thursday evening.
Like many tech start-ups, Robinhood has yet to turn a profit following its IPO. Its monthly active users declined 8per cent from the sequentially previous quarter as retail investors pulled back from the market. "Its popularity seems to be on the decline. And its revenue growth is following in the wake of its declining popularity. So when you when you sum all that together, it likely has a choppy road in front of it."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan antitrust watchdog warns brokerages against IPO underpricingTOKYO : Japan's antitrust regulator on Friday said brokerages could be acting illegally if they knowingly underprice initial public offerings (IPO), a practice detrimental to startups upon whom the government is relying to help stoke economic revival.The Fair Trade Commission (FTC) targeted price-setting
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China halts scores of IPO plans amid probe into underwriter, law firmSHANGHAI : Chinese bourses have halted processing at least 60 initial public offering (IPO) applications as regulators investigate intermediaries in the deals, including Deutsche Bank's Chinese securities venture.Exchange disclosures on Wednesday showed 12 IPO plans in Shanghai's tech-heavy STAR Market an
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
S Korea's Hyundai Engineering says to postpone its planned IPOSEOUL : South Korean builder Hyundai Engineering Co Ltd said on Friday it has decided to postpone its upcoming initial public offering (IPO).In a regulatory filing, it cited various reasons for the postponement such as difficulty in receiving a proper evaluation of the company's value. (Repo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Philippines' Citicore prices $125 million IPOMANILA : Philippines' Citicore Energy REIT Corp on Thursday priced its initial public offering at 2.55 pesos ($0.05) per share, the company said in a stock exchange filing.It will allow the country's first energy-focused real estate investment trust listing to raise up to 6.4 billion pesos ($124.5 million
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
LG Energy Solution debuts after US$13 trillion frenzy in South Korea's biggest IPOSEOUL: Shares of battery maker LG Energy Solution Ltd (LGES) debut on Thursday after South Korea\u0027s biggest-ever initial public offering (IPO) attracted bids worth US$13 trillion, underscoring upbeat prospects for the electric vehicle industry. LGES priced its 12.8 trillion won (US$10.7 billion) IPO at the
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asian shares slump as Powell warns on inflationSHANGHAI : Asian shares fell to their lowest in more than 14 months, short-term U.S. yields rose to 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signaled plans to steadily tighten policy.At the same time, rising investor concerns over political tensions betwe
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »