Robinhood's Stock Plummets as Trading Volume and Revenue Decline

Robinhood's shares dropped over 14% after the company reported a decline in trading volumes and revenue for the third quarter. The retail brokerage also saw a 16% decrease in monthly active users compared to the same period last year. While revenue increased by 29% to $467 million, it fell short of analysts' expectations. The decline in revenue was attributed to lower transaction revenue from stock trading and a significant drop in crypto trading. Robinhood is now looking to expand its growth in Europe and plans to launch its brokerage in the UK while opening crypto trading to its EU customers.