Robinhood shares drops dramatically as company announces layoffs
NEW YORK: As shares of Robinhood (HOOD) hit a new low on Tuesday afternoon, CEO Vlad Tenev revealed that the online trading platform will lay off 9% of its workers. Robinhood’s financial condition was robust, Tenev claimed in a blog post, with over $6 billion in cash on its balance sheet. The layoffs, he explained, … Read more