Robinhood (HOOD) is slashing its headcount by 23%, and its second-quarter numbers fell short of expectations. The online trading platform’s IPO last year was the talk of the town, but fortunes can change fast on Wall Street. Shares are trading at $9.2 levels, which is a far cry from its 52-week high of $85 and short interest in the stock is running high at around 9.3%. Moreover, monthly active users dropped by 1.9 million to 14 million in June as investors continued to shy away from trading. This figure was 21.3 million a year ago.
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Robinhood Markets (NASDAQ:HOOD)
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