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Robinhood Shares Drop 12% Despite Strong Q3 Crypto Growth

  • Robinhood's Q3 report revealed $150 million in net income and $630 million in revenue, yet shares dropped 12% in after-hours trading due to unmet expectations.
  • Robinhood's cryptocurrency trading volume surged 112% year-over-year, hitting $14.4 billion, with crypto revenue reaching $61 million, up 63% from the last report.
  • The company may expand its crypto offerings further, potentially launching its own stablecoin inspired by PayPal's crypto ventures.
  • Analysts predicted a higher revenue for Robinhood, causing a 12% drop in shares.

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