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Trader lost $28,000 after investing in Robinhood.

   Robinhood stock loss

Robinhood (HOOD) has dropped almost 70% from it’s all-time high of $70.39 to $25.94 since August 4th, and has been selling below the $38 IPO price for weeks. Various factors are contributing to the decline, including a dip in crypto and meme stock day trading as people return to work after the epidemic era.

A reddit user by the username u/DogeDillionaire has shared his investment robinhood(HOOD). As per the user, he lost $27,541(41.73) of his complete portfolio.

A great number of users, while commenting on that, pointed out about robinhoods’ investors security breach and meme stock reference, a couple of months ago. Almost all of them were against the idea of investing in it.

Recently, a U.S. judge dismissed a lawsuit accusing Robinhood (HOOD) of fallaciously restraining retail investors from buying fast-rising “meme stocks.”

The online brokerage firm, which has over 18.9 million retail clients, reported that a data breach on 3rd of Nov. exposed personal information for 7 million consumers. Email addresses were accessible for 5 million of them, and their full names were published for another 2 million.

In January, Robinhood enraged many consumers when it stopped trading in many highly shorted equities to meet the company’s margin requirement.

Written by farahnoorkhan

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