Robinhood Markets (HOOD) saw its stock price drop sharply by 5.03% during intraday trading on Friday. The decline was part of a broader sell-off in crypto-related stocks as Bitcoin fell below the $90,000 mark.
The drop in Robinhood's stock aligns with the performance of other crypto-exposed companies, including CleanSpark, Bitfarms, and Coinbase, which also experienced significant declines. Robinhood, which offers crypto trading services, is particularly sensitive to fluctuations in the cryptocurrency market.
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