Why Is Robinhood Markets (HOOD) Stock Down Today?

Robinhood Markets (NASDAQ: HOOD) stock fell around 7% in premarket trading on October 28 after its third-quarter earnings report raised concerns about revenue growth and profitability. Despite record quarterly revenue, weaker cryptocurrency trading income and lower-than-expected GAAP earnings weighed on investor sentiment. Management’s comments about tighter trading spreads also raised questions about the company’s near-term …