{"id":464258,"date":"2022-06-16T20:36:02","date_gmt":"2022-06-16T17:36:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/robinhood-stock-plummets-now-worth-less-than-cash-on-hand\/"},"modified":"2022-06-16T20:36:02","modified_gmt":"2022-06-16T17:36:02","slug":"robinhood-stock-plummets-now-worth-less-than-cash-on-hand","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/robinhood-stock-plummets-now-worth-less-than-cash-on-hand\/","title":{"rendered":"#Robinhood stock plummets, now worth less than cash on hand"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d816eacc01\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d816eacc01\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/robinhood-stock-plummets-now-worth-less-than-cash-on-hand\/#%E2%80%9CRobinhood_stock_plummets_now_worth_less_than_cash_on_hand%E2%80%9D\" >&#8220;Robinhood stock plummets, now worth less than cash on hand&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CRobinhood_stock_plummets_now_worth_less_than_cash_on_hand%E2%80%9D\"><\/span>&#8220;Robinhood stock plummets, now worth less than cash on hand&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Robinhood shares hit a new low this week that pushed the company\u2019s market capitalization below the value of its cash on hand.<\/p>\n<p>The brokerage <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>, once a darling of the tech industry, has slumped to roughly $7 per share \u2014 an 80% decline since its July debut price of $38. <\/p>\n<p>The company has suffered more than $3 billion in losses since its debut and its market capitalization has dropped to less than $6 billion, which puts the value of the company below the $6.19 billion of cash on the company\u2019s balance sheet, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-06-15\/robinhood-s-stock-is-now-worth-less-than-its-cash-on-hand?cmpid=BBD061622_TECH&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220616&amp;utm_campaign=tech\">according to a Bloomberg report<\/a>.<\/p>\n<p>After a nearly 10% drop Monday, Robinhood stock appeared to have stabilized on Thursday, recently at $6.97 in early afternoon trades.<\/p>\n<p>Wall Street isn\u2019t optimistic the company will recover its losses. Atlantic Equities analyst John Heagerty lowered his price expectation for Robinhood to $5.  <\/p>\n<p>\u201cWith customers returning to pre-pandemic behavioral trends and a potential recession ahead, user engagement seems likely to decline further,\u201d Heagerty wrote in a memo to clients. \u201cPlummeting crypto valuations will have a direct impact on both volumes and order value.\u201d\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-vlad-09.jpg?w=1024\" alt=\"Vlad Tenev\" class=\"wp-image-22685881\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-vlad-09.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-vlad-09.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-vlad-09.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Robinhood CEO Vlad Tenev\u2019s personal wealth has plummeted as Robinhood stock tanks.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>The battered-down stock shows how out of fashion the platform that powered\u00a0the meme stock craze\u00a0has become.<\/p>\n<p>\u201cRobinhood\u00a0was one of the pandemic darlings,\u201d said Art Hogan, chief market strategist at National Securities in New York. \u201cIt sat at the center of the meme stock mania. And that has clearly cooled off.\u201d<\/p>\n<p>The stock slump comes as both cryptocurrencies and equities have been hammered in recent days: Year to date, bitcoin has dropped more than 55% and the S&amp;P 500 has dropped more than 20%.<\/p>\n<p>Robinhood is also facing a slew of potential regulatory challenges.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-stock-08.jpg?w=1024\" alt=\"robin hood \" class=\"wp-image-22686311\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-stock-08.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-stock-08.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-stock-08.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Robinhood has lost popularity with users.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>President Biden\u2019s SEC chief\u00a0Gary Gensler has since vowed\u00a0to look into the company\u2019s practice of selling customer order flow to high-speed trading firms like Citadel Securities.\u00a0Gensler has also suggested he could change rules governing equity markets and payment for order flow \u2014 a move that could hurt Robinhood\u2019s revenues.<\/p>\n<p>Last month Robinhood laid off 9% of its employees as the company tries to cut costs.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/16\/robinhood-stock-plummets-now-worth-less-than-cash-on-hand\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Robinhood stock plummets, now worth less than cash on hand&#8221; Robinhood shares hit a new low this week that pushed the company\u2019s market capitalization below the value of its cash on hand. The brokerage app, once a darling of the tech industry, has slumped to roughly $7 per share \u2014 an 80% decline since its&#8230;<\/p>\n","protected":false},"author":1,"featured_media":464259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/Robinhood-stock-06.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[86706,130374,72388,70360],"class_list":["post-464258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-robinhood","tag-6-16-22","tag-stock-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=464258"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/464258\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/464259"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=464258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=464258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=464258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}