Here is why Robinhood Markets Inc. (HOOD) stock had a bad Thursday?

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Robinhood Markets Inc. (HOOD) shares had a bad Thursday, January 27, 2022. After declining 6.45% in the regular trading session, it further plummeted 12.75% in the after-hours session and closed the daily trading at $10.13. On Thursday, the stock volume remained 35.82 million shares. HOOD shares have moved down 15.19% in the past week. Over the past three months, the stock has lost 67.24%, while over the past six months, it has plunged 66.66%. The company has a current market of $10.53 billion and its outstanding shares stood at 638.17 million.

HOOD latest news

On January 27, 2022, Robinhood Markets, Inc. (HOOD) released its financial results for the fourth quarter and full-year ended December 31, 2021.


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Q4 2021 financial highlights

  • HOOD revenue was $363 million in the fourth quarter of 2021 compared with $318 million in the fourth quarter of 2020.
  • It suffered a net loss of $423 million, or $0.49 per diluted share in the last quarter, compared with net income of $13 million, or $0.02 per diluted share in Q4 2020.
  • Non-GAAP Adjusted EBITDA was a misfortune of $87 million, compared with $79 million in the fourth quarter of 2020.
  • FY 2021 financial figures
  • For the financial year ended December 31, 2021, total revenue was $1.82 billion compared with $959 million for the year ended December 31, 2020.
  • For FY 2021, net loss was $3.69 billion, or $7.49 per diluted share, compared with net income of $7 million, or $0.01 per diluted share in FY 2020.
  • Non-GAAP Adjusted EBITDA was $34 million for FY 2021 compared to $155 million for the prior year.
  • The company ended the financial year with 3 billion of cash and cash equivalents, compared with $1.4 billion on December 31, 2020.

FY 2022 financial outlook

Robinhood provided money related outlook for the first quarter of 2022 and anticipated a net income of less than $340 million. For the monetary year 2022, Robinhood expects total working costs to extend 15-20% year-over-year.

HOOD terminated registration statement

On December 07, 2021, Robinhood Markets, Inc. announced to terminate its registration statement for the resale of Class A common stock received by certain shareholders upon the automatic conversion of Tranche I convertible notes in connection with Robinhood’s initial public offer. The registration statement had been filed to register the potential resale of these Conversion Shares into the public markets. The registration was terminated because the contractual obligation has expired.

Conclusion

HOOD Stock plunged after it missed the profit gauges. Also, its revenue outlook was the reason behind its poor performance on Thursday. We can expect it to further go down on Friday as well.

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