![]() The profitability has declined in tandem. ![]() Those turned out to be the high watermark as the company has since delivered three straight quarters of dramatic sequential declines. The first few quarters since it came public showed strong growth. The fundamentals continue to deteriorate, though that may be due to the current market conditions. There, I weighed the distressed financials against the large cash hoard. I last covered the stock in March, and the stock has since dropped 10%. HOOD came public last summer at $38 per share, peaked briefly at $85 per share, and has since dropped 88%. While the near term future admittedly looks murky, the price is right for those optimistic for a rebound. The fall in stock price has also been driven by fundamental factors, as the company saw both growth - and profits - evaporate quickly after coming public. The once-meme stock has now become a victim of the bursting of the tech bubble. Robinhood ( NASDAQ: HOOD) has been on a straight path downward ever since its post-IPO surge.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |