Update: When we wrote this, Robinhood’s stock was off double-digit percentage points in pre-market trading, and opened under $10 per share. So, it was current as of then. Since that moment, however, Robinhood shares have flipped around and rallied. Read on for the bearish setup the market was flashing at the start of the day, but keep in mind that Robinhood reversed its declines at least by midday trading!
The 2020-2021 trading and investing boom lifted a number of companies’ revenue growth, fundraising and narrative strength. Some of the best-known even went public on the back of a global trend that made their businesses shine. Now that shine is fading, and the value of select fintech concerns is in free-fall.
The best example of this reversion is Robinhood, …
