Is it finally safe to say the meme stock craze is dead?
It was another rough quarter for retail brokerage and crypto trading firm Robinhood, which reported its first quarter results on Thursday. The company reported total net revenue of $299 million, a 43% decrease from the first quarter last year when the explosion of “meme-stock” activity led to a surge in retail trading. Company guidance had forecast total net revenue to be less than $340 million.
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