Young, unprofitable companies, like Robinhood (NASDAQ: HOOD), have been hit the hardest by the selling. One cloud hanging over Robinhood was the risk of new regulations that could cut off its primary source of revenue. Regulators recently ruled that they would not ban payment for order flow, a practice central to Robinhood's business.
(Bloomberg) -- An investor who bought into the heady promises of Nikola Corp. founder Trevor Milton in 2020 told the jury in Milton’s criminal fraud trial that he shunned the electric truck maker’s regulatory filings as long and unilluminating. Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoStocks Plummet to 22-Month Low a
Robinhood Markets (NASDAQ: HOOD) changed the investing game with its introduction of no-commission trading, and it introduced a whole new generation to the stock market. The average age of a Robinhood account holder is just 31. Robinhood's outsized influence on the market faded during the current bear market, but it's still a good idea to keep an eye on what Robinhood traders are buying.